58
2016 ANNUAL REPORT
Short Comings
Mid-term and Long-term Investments
Asthecompanyresponsibleformanaging
petroleum products import, refining
and distribution (in bulk), RECOPE has
established the National Fuel System
(SNC), composed of the specialized
facilities and equipment working jointly
to satisfy the hydrocarbons needs of the
domestic market in an efficient, safe, and
environmentally friendly fashion.
In the last 10 years, the demand for
petroleum products in Costa Rica had
increased at a rate of 2.5%per year. From
2015 to 2016, the demand increased
7.9% as a result of a staggering drop
in price that started by the end of 2015.
At present, Costa Rica consumes
approximately 8,800 m³ (55,000
barrels) of petroleum products per day,
accounting to 69% of the country’s
demand for commercial energy.
In order to meet the increasing demand
for fuel, the National Fuel System
requires expansions and modifications
underpinned by a comprehensive
business development plan and
adequate execution of investment plans,
in addition to necessary equipment
available in a timely manner.
The Department of Planning estimates
long-term domestic demand on a
regular basis, considering international
trends of quality of petroleum products
as well as alternative fuels entering the
market.
A development plan, updated regularly,
was designed to expand storage
capacity. For the 2018-2034 period,
an increase by 323,200 m³ (2,020,000
barrels) in inventory is required. The
estimated investment for increasing
storage capacity is of $250,000,000.
Studies have been conducted for the
renovation and improvement of loading/
unloading platforms of El Alto Terminal
and those for LPG in Moín.
A modern and flexible mechanism is
required to acquire the land for the
expansion of existing Terminal and for
the development of new fuel storage and
sell sites.
Creating a storage site for LPG near
the Greater Metropolitan Area is also
necessary, as the entirety of LPG is
currently held in Moín and delivered
by tank trucks to final users across the
country.
