Business & Pleasure September 21, 2019 | 7:56 am

USA will finance study to create Natural Gas plant in Monte Cristi

SANTO DOMINGO, Dominican Republic.- The US Trade and Development Agency (USTDA) will finance a feasibility study to install a Liquefied Natural Gas terminal and an electricity generator in Monte Cristi with more than 1.2 million dollars.

The Ministry of Energy and Mines (MEM) reported on Friday about the cooperation agreement signed today by the holder of that portfolio, Antonio Isa Conde, and by the interim director of USTDA, Thomas Hardy, an agreement that will allow the study, whose cost Exact is $ 1,209,336.

The Dominican official stressed that “competition in the natural gas market is important and that in the North zone we can have gas terminals and generators that increase the supply of energy.”

In addition, these facilities contribute to improving the energy matrix, said Isa Conde, who also referred to its strategic convenience for security reasons in a country like this, located on the hurricane route, a MEM statement said.

The study, explained Isa Conde, will serve as a basis for future tenders under the Expansion Plan of the Dominican Corporation of State Electric Companies (CDEEE).

For his part, Thomas Hardy was convinced that “US suppliers of LNG-related technologies can help in the efforts of the Dominican Republic to improve and expand its electricity production,” he said.

This Liquefied Natural Gas terminal seeks to meet the fuel needs of a combined cycle power generation plant, which will also be part of the project, as well as providing a supply of Natural Gas reserves to existing power plants on the south coast of the island.

This feasibility study will review the global Liquefied Natural Gas market and the local electricity market to determine the suitability of the use of this fuel for power generation.

A consulting firm in the United States will execute the feasibility study, a contractor that will be selected through a bidding process.

As part of its responsibilities, the chosen company must estimate the demand for energy and gas for the region, review the suitability of the proposed site, define the design requirements, estimate the capital of the project and operating costs, evaluate the financial viability and define The financing options available.

The MEM is the governing body responsible for the formulation and administration of the national energy and metal and non-metallic mining and energy policy.

This institution is responsible for the formulation, adoption, monitoring, evaluation and control of policies, strategies, general plans, programs, projects and services related to the energy sector and its subsectors of electrical energy, renewable energy, nuclear energy, natural gas and mining .

The USTDA supports priority development projects in emerging economies, for which it links US companies with export opportunities through the financing of projects and activities for the creation of associations that develop sustainable infrastructure and foster economic growth in partner countries. EFE