Caribe LNG announced on Monday the closing of a strategic minority equity investment by Six One Commodities (61C), together with LNG supply agreements under which 61C will supply LNG for the initial phase of the Caribe LNG project in Colombia.
According to Caribe LNG, 61C will be providing up to 51,000 MMBtu per day.
The company did not provide further details regarding the LNG supplies.
As part of the transaction, 61C made a minority equity investment in Caribe LNG.
In addition, under the parties’ investment arrangements, 61C has the option to make a further equity investment, subject to agreed conditions, Caribe LNG said.
Caribe LNG noted that these arrangements strengthen the project’s capital base while preserving flexibility for additional investors as the platform continues to develop.
“Securing both capital and LNG supply from an experienced global energy merchant represents an important step forward for Caribe LNG,” Pablo Tribin, CEO of Caribe LNG, said.
“This transaction reinforces our execution capabilities while maintaining the flexibility needed to scale the platform over time and welcome additional partners as the project progresses,” he said.
Caribe LNG is a joint venture between Course2 Energy and Andalusian Energy.
Last year, the company entered into a financing partnership with ArtCap Strategies to develop what it says is Colombia’s first fast-track FSU-based LNG import terminal.
FSU
According to a recent social media post by Caribe LNG, the company claims it has secured an FSU from Eastern Pacific Shipping’s CoolCo.
The FSU with onboard reliquefaction has a capacity of 160,000 cbm.
A presentation by Caribe LNG shows the 2014-built Koool Glacier as the FSU.
It also says that a Ro/Ro barge is under construction in Cartagena.
Caribe LNG said in the statement that it has been structured as a scalable LNG import and distribution platform, designed to support phased growth.
While the initial phase contemplates supply of up to 51,000 MMBtu per day, the platform is designed to expand to a total capacity of up to 180,000 MMBtu per day through subsequent phases.
Caribe LNG said the project utilizes flexible offshore and onshore logistics, including Roll-on / Roll-off (RoRo) LNG transportation and regasification at customer facilities or pipeline interconnections, enabling rapid deployment and operational flexibility.
As the project evolves, Caribe LNG expects to evaluate additional investment participation and LNG supply arrangements to support future expansion, the company added.
