Coastal Petroleum Dominicana, an affiliate of Coastal Corporation, (www.coastalcorp.com), announced its new San Pedro de Macorís propane gas storage facility will be ready by the year’s end. The terminal for the uploading of Liquefied Petroleum Gas (LPG) includes 30 tanks with capacity for 2,325 barrels of gas, linked by eight-inch high tech pipelines. The new facility is expected to resolve the problem of cyclical shortages of the gas. A Coastal Power Company affiliate and Gener S.A. (a leading South American electricity company) recently won the bid for 50% of the Itabo General Company from the Dominican government. Itabo owns and operates six thermal plants with nominal capacity totaling approximately 586 megawatts located near Santo Domingo. Coastal Corporation is a Houston-based energy holding company with consolidated assets of more than $12 billion and subsidiary operations in natural gas transmission, storage, gathering/processing and marketing; oil and gas exploration and production; petroleum refining, marketing and distribution; chemicals; power production; and coal.
