New storage and packaging plant for liquefied petroleum gas (LPG) will be implemented in Guayas

The Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources (ARCERNNR) authorized the private company Duragas Abastible SA to implement a new storage and packaging plant for liquefied petroleum gas (LPG).

Through resolution No. ARCERNNR-CTRCH-2022-0021-RES, the entity issued the feasibility authorization for the project.

The hydrocarbon work, which will be located in the province of Guayas, is part of the contract signed by the Duragas company with the Ecuadorian State, on December 1, 2021.

The Minister of Production, Foreign Trade, Investments and Fisheries, Julio José Prado; the general manager of Duragas Abastible, Jaime Solórzano Álava; and the director of the company, Joaquín Morillo Paimann, signed, at that time, the contract that will be in force until 2029.

The signed agreement stipulates a private investment of $50 million “to improve and expand the installed capacity for the storage, packaging and marketing of LPG, in the locations where the company operates.”

Duragas signed an investment contract for more than $50 million

The Agency’s resolution is part of the policies promoted by the National Government to increase private participation and investment in the country’s energy sector, established in Executive Decree No. 279, which allows new investments and the installation of plants for the processing of hydrocarbon derivatives in the country.

The Agency, through a statement, highlighted that The investment portfolio for the hydrocarbon sector, presented by the Ministry of Energy and Non-Renewable Natural Resources, plans to capture an approximate amount of $19,000 million until 2025, through the public bidding of seven projects in various oil areas. (I)