Chilean Gasco, Colombian Gazel To Open 25 VNG Stations

Chilean natural gas company Gasco, a subsidiary of Chilean electric power holding company CGE, and Colombian natural gas company Gazel will open 25 vehicular natural gas (VNG) stations under a recently signed association agreement, Colombian daily Portafolio reported on December 4, 2007.

The VNG stations will be located in Chile as Gazel wants to expand its presence in the Chilean gas market. The stations will be of the Gazel brand and are expected to be opened by the end of 2008.

The initiative is part of Gasco plans to expand its business in the administrative Region XII, in southern Chile, which was negatively affected by the decrease of the Argentinean energy exports.

Apart from Chile, Gasco (www.gasco.cl) also operates in Argentina. Through its subsidiary Gas Sur SA, it takes part in the natural gas distribution in central Chile by supplying gas from Argentina's Neuquen province through the pipeline Gasoducto del Pacifico SA.

Gazel plans to become one of the leading gas companies in Colombia over the next five years.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: December 5, 2007

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