Centragas

concluded

Centragas has a 357-mile (574.4km) natural gas transmission system with a capacity of 110 million cubic feet of gas per day. The pipeline extends from Ballena, on the northern coast of Colombia, to Barrancabermeja, in the central region of the country. Centragas ownership structure was initially structured as follows: Enron held 75% of the shares and Promigas held 25%. In 1996, Enron sold a 25% stake to Tomen Corp. of Japan. Ecopetrol, Colombia's state-owned oil company, is the sole customer for the gas transportation services under a 15-year contract. The cost of the project is $210 million. As of 2005, Enron still controlled 55% of Centragas, and was in the midst of liquidating its operations and distributing its assets to its creditors. As of 2007, Enron was no longer a shareholder of Centragas with Arctas Capital Group LP [United States] as the majority shareholder. Tomen Corp [Japan] and Promigas [Colombia]each held a 25% stake. Since the 2007 incorporation of Transportadora de Gas del Interior(TGI), a state owned enterprise, Centragas has recieved a fixed tariff from TGI. The contract will expire in February 2011 and ownership of the asset will revert to TGI. The contract period began in 1996 at the start of the pipeline's commercial operations. In 2006, Tomen Corp was merged with Toyota Tsusho Corp. As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. http://www.enron.com/corp/pressroom/icoassets.html