Company name

FSRU Ltda de CV and FSRU Development Pte Ltd

Project number

12520-02

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

El Salvador

Sector

Energy

Status

In implementation

Disclosed date

11/02/2020

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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12/16/2020

Approval date

12/16/2020

Signed date

02/17/2021

Sponsoring entity

N/A

Team leader

Perez Salmeron, Ana Julia

Investment type

Financing requested

N/A

Syndicated amount

USD $ 42,500,000

Financing amount

USD $ 88,000,000

Currency

USD

Project scope and objective

The Project involves the purchase and conversion of a liquified natural gas (“LNG”) carrier (“LNGC”) to a Floating Storage and Regasification Unit (“FSRU”). The FSRU  will be permanently moored at the port of Acajutla in the Department of Sonsonate, in El Salvador, to provide liquified natural gas regasification services to Energia del Pacifico Limitada de CV (“EDP”),  a 378-megawatt combined cycle thermal power plant financed by IDB Invest in 2019. The FSRU is an essential piece for the operation of the LNG-to-power plant, which is expected to be the lowest cost thermal generator in El Salvador, a country  heavily reliant on imported heavy fuel oil-fired generators for its dispatched power, and to provide reliable energy, reduced carbon emissions and increased foreign investment.

The Project sponsors are BW Gas Ltd (“BW”) and Invenergy Investment Company LLC (“Invenergy”). BW is a global maritime company involved in the infrastructure development, production, and shipping of natural gas. Invenergy is a global developer and operator company for provision of diverse energy solutions (natural gas, wind, solar, storage). The Project developer companies (the “Borrowers”) are: i) FSRU, Ltda. de C.V, a Salvadorian company; and ii) FSRU Development Pte Ltd, a Singaporean firm. Both borrower companies are jointly owned by the sponsors.

FSRU Development Pte Ltd is the current owner of the liquid natural gas carrier (LNGC) ship ‘BW Tatiana’, a moss-type tanker previously owned by Shell (and named SS Gallina) and which will be converted into an FSRU. Once converted, the FSRU will then be transferred from the shipyard in Singapore and moored at the project location in Acajutla, El Salvador, as part of supply gas infrastructure to EDP’s LNG-to-power plant. Ownership of BW Tatiana will be transferred to FSRU Ltda. de C.V. for the operational phase of the Project.

 

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Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

FLOATING STORAGE AND REGASIFICATION UNIT - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

215.6 Kb

FLOATING STORAGE AND REGASIFICATION UNIT - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

307.0 Kb

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Contact information

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EMAIL

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PHONE

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ADDRESS

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