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Projects

Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.

 

Project name
EPED Holding Co. (Argentina & Chile)
Project ID
1130
Fiscal year
1999
Status
Not Active
Guarantee holder
EPED Holding Company
Investor country
United States
Host country
Argentina
Chile
Environmental category
A
Sector
Oil and Gas
Gross exposure
 $31.4 million
Project type
Non-SIP

MIGA issued $31.4 million in coverage to EPED Holding Company for its investment in a natural gas transmission project from Argentina to Chile. MIGA's guarantee covers the investment against the risks of transfer restriction, expropriation, and war and civil disturbance. The expropriation coverage protects the investment against actions by either government against the project enterprise in either Chile or Argentina.

The project, part of an integrated energy project, will transmit natural gas from Argentina to Chile through the construction and operation of the 641 kilometer GasPacifico pipeline. In Chile all users of hydrocarbon fuels in Region VIII will benefit from reliable supplies of natural gas. The use of environmentally clean fuel will replace high-sulfer fuel oil, coal and firewood, thus alleviating pollution and deforestation. Training will be provided for construction and inspection, safety, and technical and professional programs.

The project will generate more than $835 million in tax revenues for the two countries and substantial annual exports from Argentina. Goods and services totaling approximately $100 million will be purchased for the project either in Argentina or Chile.

 
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