Latin America has become an attractive opportunity for upstream investment and southern Cone countries are looking to LNG to meet rising demand for gas. The NG O&G Latin America summit will discuss the opportunities available and how they plan to capitalize on new demand.
The LNG import business in Latin America is set to see growth this year as a number of recent projects across Brazil, Argentina and Chile are completed and this has not gone unnoticed by leading executives from the oil and gas industry who believes the time to invest is now and the returns will be substantial.
The Development of LNG imports has been driven by the industries reluctance to increase investment in Bolivia despite its large natural gas reserves. And discussions on constructing a $1.6bn pipeline to boost imports from Bolivia have now been stalled. Investment into LNG now seems to be the preferred option. More than ever the political risks have been brought to the fore front and LNG is the safest future for the industries community. A large number of energy investors that were formerly government owned are now looking for new market opportunities and Latin America is holding its own.
Peru, with its large natural gas reserves is keen to lead the way in exporting LNG to the US and is one of the most advanced projects in South America, with major companies from the US, Spain and Korea industry executives are eager to hear how future projects will succeed in a similar way to those in Peru. A committee who will focus on political, geographical and technological futures will meet at the NG O&G LA summit (hosted by GDS International) and the announcement of future projects is sure to shape the future of LNG supply and demand.
Key to the talks will be representatives from Gregory Hebertson GM Exploration Latin America Anadarko Petroleum Corporation, Hector De Santa Ana Director of E&P ANCAP, Jose Vicente Zapata Lugo President Columbus Energy Sucursal Colombia, Steve Benedetti VP Latin America Petro Vista Energy and George Lusco New Ventures Manager Repsol YPF who have now joined the respected committee at NG O&G LA.
The growth of LNG within Latin America relies on stable and consistent input from both the governments and industry but the time to act is now, is this the bright future we have been led to believe?
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