PROVIDES UPDATE ON PIPELINE AND FACILITIES AT MARIA CONCHITA VANCOUVER, BC, Jan. 4, 2022 /CNW/ - NG Energy International Corp. ("NGE" or the "Company") (TSXV: GASX) (OTCQX: GASXF) is pleased to announce that the Company has completed all civil works and laid all flow lines to connect the gas plant to the national gas transportation system and is currently completing the consultation process with the communities located in the line of the pipeline, to continue with the completion of the connection to the Transportadora de Gas Internacional ("TGI") main pipeline..
Assembly of the gas plant will be complete in the coming days, pending the delivery of the Glycol and Dehydration Units which have arrived at the port in Colombia and are awaiting transport to site.
Additionally, approximately 40 meters of flow line will be laid, extending from the limit of the Aruchara-1 platform to the wellhead in order to tie the well in. This will be completed as soon as the Company obtains its amended environmental permit from National Authority of Environmental Licenses ("ANLA"). NGE has submitted all the requested information to ANLA, after their visit to the block at the end of November, and the permit is expected in January.
Upon completion of the pipeline facilities, the Company will work toward converting the Letters of Intent ("LOIs") currently in place with Trafigura, Empresas Pblicas de Medelln ("EPM") and Vanti Gas into final take or pay contracts for the production from Aruchara-1 providing shareholders with greater certainty around cash flow.
Serafino Iacono, Chief Executive Officer of NGE commented "we want to wish a happy new year to all our supporters, 2021 was a great year for NGE, we are proud of the operational milestones we achieved in spite of persistent logistical difficulties from the pandemic. 2022 will be truly transformative as the Company begins production at Maria Conchita and executes on drilling SINU-9."
About NG Energy International Corp.
NG Energy International Corp. is a publicly traded E&P company on a mission to provide a clean and sustainable solution to Colombia's energy needs. The Company intends on executing this mission by producing and bringing gas to the premium priced Colombian gas market from its concessions, SN-9, a 311,353 acres block which is adjacent to Canacol's Nelson field, as well Maria Conchita, a 32,518-acre block located in the region of La Guajira. NGE's team has extensive technical expertise and a proven track record of building companies and creating value in South America. For more information, please visit SEDAR (www.sedar.com) and the Company's website (www.ngenergyintl.com).