SANTO DOMINGO.- The world’s cheapest fuel, natural gas, will save the country US$1.0 billion in the balance of payments, including US$300 million in annual energy production, although it’s positive impact would stronger when that market is developed.

However despite that contracts with four companies have been signed to develop the natural gas market in the country, the Industry and Commerce Ministry’s regulation for its development and marketing still isn’t ready.

Moreover the “cryogenic" gas plant which would supply the fuel and slated to be ready to yearend, is still under construction.

Cryogenic gas is natural gas in a liquid state and the terminal being built in Punta Caucedo will allow its transport in that state to all factories, hotels and vehicles, which would mean savings of more than US$1.0 billion to the country.

AES Dominicana president Marco De la Rosa said that company signed several contracts with local companies and one from the United States, to provide natural gas’ economic benefits to other sectors of the country.

He said those companies will distribute natural gas across the country supplied by the cryogenic natural gas terminal, once the works conclude around mid December.

“The idea is that service stations will start to open making it possible for natural gas to reach vehicles, and while that cryogenic natural gas terminal is expected by December, the regulations and regulatory framework which will accompany that market’s development are being prepared."

De la Rosa said that at yearend, when more service stations begin operating, in addition to the one already operated by Linea Clave on the Las Americas highway, and the other companies have aggressive plans, there’ll be dozens of natural gas stations for the conversion of vehicles.

He said in 2008 with oil prices at US$80 and natural gas at US$8, the relation was 10 to 1, but today that relation is 20 to 1.

The AES Dominicana president said natural gas’ many benefits will materialize as a result of the investments made in the country, but beyond that what they see is the market’s development.

He said his company’s investments go beyond the electrical sector, and describes as radical the conversion of the energetic matrix based on petroleum derivatives, to gas and coal.

SOURCE: diariolibre.com