Transmetano operates a pipeline in Antioquia in Colombia. Transmetano has a capacity of 73 mmcfd. Transmetano operates under a concession agreement with the Colombian MME which expires in 2043. The Colombian government has the option to buy the original assets at fair price determined by a third party in 2042. Otherwise, the concession contemplates extensions in 20-year increments. Since 1994, a concession has no longer been required to operate a pipeline in Colombia.
Ecopetrol S.A., the Colombian state-owned petroleum company, is currently Transmetano's sole customer under a Transportation Contract which expires in 2012. At the end of the term, Ecopetrol has an option to renew the contract for 10 successive one-year terms. Independent of volumes transported, Ecopetrol pays a tariff established by the contract.
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