Sunday 2 October 2022

Problems in Costa Rica’s Natural Gas Market

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01 October 2022 - At The Banks - BCCR

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In Costa Rica, the companies Rhone Investissements and Cervin Investissements are demanding the reinstatement of the administration of Gas National Zeta.

The struggle between Envangelina López and Miguel Zaragoza for control of the company Gas Zeta dates back to 2014, when a process of divorce and distribution of assets between both people began.

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After a formal separation in November 2015, the company in dispute was left in the hands of López and until now, the company has been run by the husband of one of her daughters.

The disagreement was back on the table last week, when the Swiss companies Rhone and Cervin requested the immediate return of Gas Zeta. This new struggle has led to fears of a possible shortage in the sector, since there are records of a similar situation in 2015.

Regarding the dispute, Carlos Quesada, spokesperson for Evangelina López, told Nacion.com that ” … the company’s request for a return is ‘inappropriate’ because the Swiss companies have not shown that the share capital of Gas Zeta belongs to them, and neither have they verified who is its true owner.”

The article adds that ” …’Neither Cervin Investissements nor Rhone Investissements have shown before the Costa Rican State, nor before the Judicial Power, nor before any administrative authority in Costa Rica, that the share capital of Gas National Zeta belongs to them,” cites a document containing Quesada’s statements.”

“We seek a commitment from both jurisdictional and administrative authorities to resolve as soon as possible and protect consumers, in order not to interrupt the permanence of public service and prevent what happens between April and May 2015, when hospitals, dining rooms schools, shops and prisons were without this service. For that, the public regulatory system has the power to implement the protocol to ensure that there is no shortage of gas and bring peace of mind to users when the change of administration is made,” Ernesto Villalobos, spokesman for Rhone and Cervin Investissements, told El Financierio.

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