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BTG Pactual and the Financiera de Desarrollo Nacional (FDN) will provide the financing to RDP, part of the Puerto Inversiones y Obras.
FDN said in social media posts that the financing comprises $130 million in senior debt, with each entity participating up to $65 million, under a scheme with a term of up to six years.
Dentons Cardenas & Cardenas, which advised PIO SAS and RDP, said in a separate statement that the financing was structured under the laws of the State of New York.
In order to reach financial close and execute the financing documents, the firm advised the LG terminal developers on the negotiation and execution of financing documentation governed by Colombian law.
The financing is for the development of a logistics and port services project in Buenaventura and a regasification project in Buga (Valle del Cauca).
According to the law firm, this financing is a “milestone for the Colombian energy sector, not only because it was structured in the midst of a potential energy crisis and under a demanding schedule, but also due to the various aspects of the logistic and operational chain that make this project unique in Colombia.”
Dentons Cardenas & Cardenas also rendered legal advice to PIO SAS and RDP in the negotiation of its material project agreements, including, among others, securing an FSU, acquiring offshore supply vessels and ISO containers for the maritime transportation of LNG, land transportation agreements for the transfer of ISO containers from Buenaventura to Buga, the civil works contract, and the design and construction agreement for the regasification plant in Buga.
Exmar FSU
RDP is developing a fast-track LNG import solution in the inner bay of Buenaventura, under a term contract signed with Colombia’s state-owned energy firm Ecopetrol in February 2025 to provide regasification and logistics services for a volume of 60 million cubic feet per day of gas.
In March 2025, Ecopetrol announced a deal with compatriot PIO SAS for regasification infrastructure on the Colombian Pacific coast.
In September 2025, Belgian shipowner Exmar secured a contract from RDP to deploy an FSU.
Exmar will lease the FSU to RDP while its operation and maintenance teams will be in charge of the management of the FSU, under contracts with a duration of five firm years, with options to extend.
Following the publication of this article, the Belgian shipping firm announced in a statement on February 13 that it received confirmation from its client RDP on the successful closing of its financing documents on the Buenaventura project.
“After conversion of the LNG carrier, which Exmar secured for this project, Exmar anticipates starting operations in the third quarter of 2026,” it said.
(Updated with a statement by Exmar.)
