Gases de Boyaca y Santander

concluded

Closed

In 1998, Promigas, through its subsidiary Gases de Boyaca y Santander, won the bidding for a US$ 55 million project to provide natural gas to a 400,000 population (9 cities) through the construction of a 315-km long pipeline. Promigas is itself a subsidiary of Enron Corp. The project envisages the construction and operation of the pipeline during a 10-year period. In Nov. 1999, CAF approved a US$ 40 million financing package for this project: US$ 10 million in direct loan and US$ 30 million in syndication (Dresdner Kleinwort Benson, Paribas and Banque Nationale de Paris). As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. Promigas was acquired in 2006 by Ashmore Energy International. As of December 31, 2008, AEI held an equity interest of 49.9%. Promigas owned 93.87% of GBS. GBS operated under BOMT agreement with Empresa Colombiana de Gas which expired in October 2009. Under the terms of the BOMT agreement, ownership of the pipeline reverted to TGI, a state owned enterprise. As of 2005, Enron was in the midst of liquidating its operations and distributing its assets to its creditors. http://www.aeienergy.com/?id=232

Energy

World Bank Group

Project

Natural Gas, Commercial, Government