The acquisition was carried out within the framework of the provisions of Executive Decree No. 95 that outlines the new hydrocarbon policy.
The Ministry of Energy and Non-Renewable Natural Resources reported that by January 11, 2022 the arrival of two million cubic feet of liquefied natural gas (LNG) is expected.
The load corresponds to the first import in the history of Ecuador of this type of fuel, which will be carried out by the private company SYCAR LLC, duly qualified and authorized by the State Portfolio.
According to the entity, the LNG will be stored and transported in tanks designed for this purpose. The importing company explained that the distribution to the final customer It will be carried out directly from the Isotanque, therefore, the infrastructure of EP Petroecuador will not be used.
The Deputy Minister of Hydrocarbons, María Cristina Cadena, among other authorities of the hydrocarbon sector, will participate in the act of receiving the cargo, which is scheduled to take place in the Deep Waters Port in Posorja, Guayas province.
The Energy Portfolio reiterated that, the National Government, promotes private investment to strengthen the Ecuadorian economy and improve the quality of derivatives that are traded in the country, in accordance with the provisions of Executive Decree No. 95, which outlines the oil policy of Ecuador.
Four pillars support the new oil policy of the Government, according to executive decree 95
The objective of this decree, made official in July 2021, it was to outline a plan of action and optimize state revenues. In addition, as a mainstay, increase the production of hydrocarbons, in a rational and environmentally sustainable way, and reduce inefficiencies and costs in the areas of industrialization, transportation and commercialization of hydrocarbons.
All the measures, established in the decree, are aimed at allowing a greater participation of the private sector and the doubling of oil production to 1 million barrels per day, in order to generate more resources for the treasury. (I)
Paul is a talented author and journalist with a passion for entertainment and general news. He currently works as a writer at the 247 News Agency, where he has established herself as a respected voice in the industry.
