The ICSID Arbitral Tribunal has ruled that the Costa Rican government did not cause damage to the company of Swiss capital, Gas Nacional Zeta, which sought damages of $75 million for disagreements over the LP gas tariff setting.
In 2013 the company of Swiss capital sued the Costa Rican government over disagreements on the tariff setting and safety requirements.
The company is conducting feasibility studies on the import and distribution of Liquefied Petroleum Gas in El Salvador and other Central American countries.
"It would be an important element if we managed to change the energy matrix of El Salvador," said José Luis Merino, Alba Petróleos advisor, who explained that the company (funded with capital from the municipality of El Salvador and the state of Venezuela) has had conversations with natural gas producing countries.
The state fuel company Recope will begin importing natural gas within 6 months, to sell it to industrial clients.
According to Jorge Rojas, general manager of Recope, research is still being conducted over how many tons of gas will be brought into the country and at what prices it will be marketed locally.
The product will serve as an alternative for large scale energy consumers, who have seen their costs affected by the higher prices for the electricity in the country.
The State refiner awarded the Felguera group the construction of the new infrastructure for storing liquefied gas.
I.H.S.A. Felguera Spain won the tender and will be responsible for the design, purchase of materials and construction of six storage facilities of 250 m3 each.
The project will cost a total of $ 10,481,266.00 and will start construction in July of this year for completion in October 2012.
The natural gas and combined cycle facility under construction at Port La Unión could be supplied with gas shipped from Camisea, Peru.
In early 2011, Peru will start outputting and distributing gas from its giant fields in Camisea, 500 kilometers west from Lima. This could trigger a change in the energy mix of El Salvador, moving towards cleaner, more efficient and cheaper energy.
With the new plant, the country will double its storage capacity for liquefied petroleum gas.
Gabriela Montes de Oca is the head of this project in Recope, the state owned energy company. She assures the plant will save the country $8 million in freightage costs.
"... the project will be financed by the Central American Economic Integration Bank, through a trust...
Starting August 2009, Praxair Costa Rica, local subsidiary of Praxair Inc corporation, will export liquefied gases to Nicaragua and Panama.
To expand its market and export to the region, Praxair Costa Rica invested $15 million in a new 7.000 square meter facility, which is in the last stage of construction.
The company will sell nitrogen, oxygen and argon to Panamá and Nicaragua because of the geographic proximity.
Praxair Costa Rica, a subsidiary of Praxair Inc. is reported to have acquired a new ASU plant, considered to be one of the most modern in Latin America.
The investment is part of the expansion plan the company has been developing for several years, including the relocation of its operating facilities from Tres Ríos to El Coyol de Alajuela in the Propark Industrial Park, according to a report by El Financiero.