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South America news Regional update
EIC´s newest market intelligence product, EIC Inform is also available for South America. This bespoke service was created to support your business to gain a better understanding of energy Clariss e Roch a sectors, local markets and available business opportunities. In this region, an EIC member recently hired the team to map the presence of major OEMs and alternate suppliers for engines and compressors that act within specific countries of South America such as Brazil, Colombia, Trinidad & Tobago, Panama and Venezuela. In total, EIC identified 37 enterprises in this research, of which 20 were identified as OEMs and 17 as alternate suppliers, according to the demands presented by the client who was very pleased with the outcome. Want to find out more about what we can do to help with your business strategy? Don’t hesitate to schedule a meeting with us. For more details please see page 24.
Regional news
Colombia to ban fracking?
Various members of the Colombian congress have backed proposed legislation that would ban hydraulic fracturing in the country. They argue that fracking would cause irreparable damage to the environment, posing risks to fauna and flora as well as human health. The move comes at a time when Colombian energy authorities are in the final stages of putting forward a regulatory framework for fracking, which – in the view of the Colombian Oil Association (ACP) – has the potential to unlock US$5bn in annual investment.
Guyana to increase capacity The country’s recently inaugurated government has announced plans to install 400MW of new power capacity within the next five years. The government plans to reduce the cost of electric power by 50% by introducing gas-fired power plants, hydro and solar power plants as well as wind farms.
On 20 August we hosted an EIC LIVE e-vent with an emerging player in the local industry, the Oil Group. Their managing director for business development and investor relations, Mr Gustavo Zumel gave an insight into the recently announced MoU for the development of a modular refinery at the Açu port complex in Rio de Janeiro. The project is being developed in partnership with Entrepose Group, Axens, Tridimensional, Intech and Header Engenharia. They also announced a downstream programme with two modular refineries and one mini refinery on top of the Carandá, Rio de Janeiro and Espírito Santo refineries. The final Q&A session provided details on who to do business with in the company. Clarisse Rocha, Head of Americas clarisse.rocha@the-eic.com
Brazil sees potential for 16GW of offshore wind by 2050
According to a long-term energy expansion plan drafted by Brazil’s Energy Research Office (EPE), there is potential for the development of 16GW of offshore wind capacity in the country by 2050. Brazil has no offshore wind farms at present, but a preliminary assessment of wind speeds off the coast has identified high potential areas in the country’s northeast, southeast and south regions. The EPE estimate may be conservative, as players such as Iberdrola and Equinor have already started the licensing process for offshore wind projects across the country amounting to a total capacity of 14GW.
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EIC (Energy Industries Council)
