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4 July 2006 - Suez Energy has presented plans to the Chilean Ministry of Mines and Energy for a $700m investment in the country aimed at securing the long-term energy supply in the north of Chile.
The plan provides for the installation of an LNG regasification terminal in Northern Chile, to supply natural gas to the local power plants. The proposed solution could deliver gas as early as July 2008.
The plan also includes the construction of two thermal generation units, each with a net capacity of 200 MW, that burn either coal, petcoke or a mixture of both. The first unit could be operating in 2011.
Dirk Beeuwsaert, CEO of Suez Energy International said: "This plan is realistic and allows to answer the current crisis in Chile which is brought about by the gas supply restrictions from Argentina and the significant dependence on gas-fired installations in the north of Chile."
Suez, through its companies Edelnor and Electroandina, has the most diversified production capacity in this region and its coal plants are essential for the energy supply during the gas supply restrictions.
"The solution we are proposing now will - in the short and long term - further diversify and secure the energy offer for the Chilean economy. Suez has the resources and world wide experience in the energy and LNG business to ensure the implementation of this plan and guarantee energy supply for the growing energy needs in Chile," said Beeuwsaert.
Suez Energy International is continuously developing its activities in South America. Only last week it announced the construction of a second 174 MW unit to its Chilca gas-fired open cycle plant in Peru.
At the June 29 energy auctions in Brazil, Suez succeeded in selling 493 MW of power, representing over €6bn ($7.7bn), covering a term of 30 years.
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