The natural gas importer Sycar separates itself from the Gunvor company for a project in Ecuador

Sycar's manager acknowledged that in 2019, together with Gunvor, he signed a memorandum of understanding with Petroecuador and Celec, but this would have been unsubstantiated.

Sycar LLC, a US company that is about to obtain its operator permit to import and supply natural gas to both the public and private sectors of Ecuador-and that in her initial proposal to the Ecuadorian Government she presented herself as Gunvor's partner-, she reported through a statement that “in the face of the events that have arisen” and that are in the public domain,has decided that “Gunvor will not be part of the selection process”, to be its gas supplier in said operation. He clarified that he has not yet signed a gas supply contract with the Government, neither in a private way, nor in partnership with Gunvor.

Gunvorhas been identified by the US justice as a company that has paid bribes in Petroecuador to obtain contracts. This, after a former employee of the American company made the confession thatpaid bribes to three Petroecuador officials for about $ 22 million and in a period that goes from 2012 to 2020.

Despite Sycar's explicit distancing from Gunvor, Nelson Jaramillo Pita, managing partner of Sycar, acknowledged, in a statement, that on February 26, 2019 (within the period investigated by the US Justice), signed a non-binding Memorandum of Understanding between the companies EP Petroecuador, Celec EP, Sycar LLC and Gunvor International BV.

At that time, the following were listed as managers of the companies: Pablo Flores (Petroecuador) and Robert Simpson Nankervis (Celec). The memorandum spoke of the possibility of developing a facility for importing liquefied natural gas with the intervention of a barge in southern Ecuador and supplying imported gas to Termomachala. However, for the agreement to be legally binding, previous rules had to be met.

Thus, the April 26, 2019, together with Gunvor presented the proposal gas supply, and then a review, dated July 14, 2019. However, said Memorandum of Understanding expired six months after its signature, "without having produced any binding agreement," he explained. For Jaramillo, “it should be understood that the proposal presented by Sycar and Gunvor was not accepted or taken into account by Celec and Petroecuador ”. In any case, until this week, the investment bank Lancaster Latam mentioned as part of Sycar / Gunvor's investment plans the waiting for a tender for the supply of gas to Ecuador. The page was corrected yesterday, and now only Sycar is listed.

Anyway,Sycar assured that it independently decided to continue with the studies and permits necessary for the construction of a natural gas import terminal, considering it a viable commercial opportunity and a solution for the provision of LNG to the private and public sectors in Ecuador.

On January 23, 2020, through resolution MTOP-SPTM-2020-0006-R, they were awarded the concession of Bahíaby the Undersecretariat of Maritime Fluvial Transport and Ports. Also datedMarch 23, 2020 obtained,by Official Letter No. ARCH- DCTC-TAD-2020-0231-OF, theoperating permit for an FSRU unit by the Agency for the Regulation and Control of Hydrocarbons (ARCH).

On February 11, 2021, the Vice Ministry of Hydrocarbons granted Sycar the qualification of natural gas marketer,liquefied natural gas and compressed natural gas. Said resolution indicates that it must present the necessary requirements to obtain the operating permit.

Currently, progress has been made in environmental licensing, andOn April 1, 2021, the report on the systematization of the citizen participation process was approved by the Ministry of the Environment and Water(PPC) of the Environmental Impact Study and Environmental Management Plan.

Sycar is currently looking for your supplier,among "world renowned providers" whose names, he said,it cannot be disclosed "due to confidentiality agreements",after ruling out Gunvor.

TheCorporación Eléctrica del Ecuador (Celec EP) reported that within its supplier registry the names of the Gunvor / Sycar companies are not found.I also knowHe argued that the memorandum of understanding, supposedly signed by Celec EP with said company, is not found in its documentary file either, "therefore, at no time has it been carried out ”.

Meanwhile,Petroecuador has indicated that it removed Gunvor from its list of supplier companies.