Colombia: TGI attracts partner interest

Leopoldo Montanez, president of Transportadora de Gas del Interior (TGI), has said that he has received interest in a 9% stake from a possible partner; this would earn the firm resources of over US$40mil. Empresa de Energia de Bogota (EEB) owns 89.2% of TGI, CAF owns 9% and minority shareholders, 1.8%. EEB paid Peso$3,200bil for its stake in TGI, the largest gas-transport operation in all Colombia (and set to operate in Peru soon).

Montanez says that the potential partner would provide the funds TGI needs to meet its investment plan of US$300mil from 2008 to 2011. TGI, founded a year ago, wants to increase gas-transport capacity by 100% from Cusiana to 420 million cubic feet and by 100% also from the fields of La Guajira to 240 million cubic feet per day. TGI boasts a network of 3,700 kilometres of gas pipelines nationally (having taken the assets of Ecogas on).

Publication: SABI - Business News
Provider: South American Business Information
Date: February 27, 2008

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