|
|
 |
|
 |
 |
06.26.06
»
BNDES approves a financing of US$ 279 million for exports of Brazilian goods and services to Argentina
BNDES approved a financing of US$ 279 million destined to exports of Brazilian engineering and construction goods and services for the expansion of gas pipelines in Argentina. The project provides for an expansion in the capacity of transporting natural gas through the gas pipelines integrating the systems operated by Transportadora de Gás Del Norte [TGN] and Transportadora de Gás Del Sur [TGS], which account for the primary system for gas transport (from distributors' wells). Total investment is US$ 450 million.
TGS, which has equity interests from Petrobras Energia S.A. [PESA], a Petrobras subsidiary in Argentina, transports about 60% of the gas consumed in that country, supplying directly distributors, electric generators and industries through a gas pipeline system with 7.9 thousand km extension. This transport network connects the south (Austral) and west (Neuquén) gas reserves with the main consumption centers in the country, including Buenos Aires metropolitan area, through 3 gas pipelines: San Martín and Neuba I and II. Its capacity is 74.3 million m3/day, for an installed potency of 579,090 hp.
TGN operates its own network with 5.4 thousand km of gas pipelines, connecting the reserves located in the Provinces of Salta and Neuquén until San Jerónimo Compressor Plant, in the Province of Santa Fé. Comprised of two main gas pipeline systems, North Gas Pipeline and Center-West Gas Pipeline have 17 compressor plants and capacity of 56.4 million m3/day, for an installed potency of 300,170 hp.
The Brazilian goods and services financed by BNDES are destined to investments performed by the company Albanesi S.A., which main activities are the execution of infrastructure works for water and natural gas networks and the installation of branch gas pipelines. Albanesi is one of the leading natural gas traders in Argentina, accounting for 12% of total gas consumed, 18% of the market for large customers and 4.5% of transports, and accounting for 8 million m³/day (20% of production in Austral basin and 7% of production in Neuquén).
The Brazilian exports financed by BNDES comprise measurement equipment, steel tubes and sheets, among other engineering goods and services, which will allow to increase the system transport capacity by up to 4.9 million m³/day (25% of the expansion plan), upon the installation of loops, extensions of ducts in parallel to the main gas pipeline.
This operation was structured in sequence to the financings approved by BNDES in February and March of last year, in a total of US$ 213 million, which allowed a transport capacity expansion by 4.7 million m³/day, guaranteeing gas supply to the benefited regions, still in 2005.
As in the operations performed in 2005, the new BNDES financing to Brazilian exports to TGN and TGS projects was approved in the ambit of the post-shipment line (destined to the external trading of goods and services), in the supplier credit modality (refinancing to exporters) and will be made in the ambit of the Convention for Mutual Payments and Receivables [CCR], of the Latin American Integration Association [LAIA].
The use of CCR, an instrument allowing the compensation of payments arising from exports and imports between countries in the region, confirms its qualification as an essential mechanism for increasing the trade and implementing infrastructure projects in Latin America.
The project will further count on financings from Argentina's public and private financial institutions, besides local investors. The financial conditions approved by BNDES include the same terms for operations approved in 2005, with a total payment term up to ten years and the contracting of export credit insurance.
The Argentine government plan provides for an expansion of up to 20 million of m3/day in gas transport capacity, throughout the period 2006/2008. The investments should be performed by the producing and trading enterprises, in addition to distributors and large consumers of natural gas in Argentina, which have participated in the competition for acquisition of transport firm capacity.
 Back
to news
|
|
|
|
|
