Colón LNG Terminal

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Colón LNG Terminal, also known as the Costa Norte LNG Terminal, is an operating LNG terminal in Colón, Panama.

Location

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Project Details

  • Parent: AES (50%), Inversiones Bahía, Ltd (50%)
  • Location: Colón, Panama
  • Coordinates: 9.339968, -79.907761 (exact)
  • Capacity: 1.5 mtpa, 0.31 bcfd
  • Status: Operating
  • Type: Import
  • Start Year: 2018

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

Colón LNG Terminal, also known as the Costa Norte LNG Terminal, is an operating LNG terminal in Colón, Panama.[1]

The Costa Norte LNG Terminal is owned by energy company AES (50%) and Panamanian Inversiones Bahía, Ltd (50%). In May 2017, French energy company Engie and U.S.-based AES agreed to enter into a joint venture to market and sell the gas imported to the Costa Norte LNG terminal. The terminal was designed to have a capacity of 1.5 mtpa, of which almost half was to be used by AES's power plant under construction on the same site, with the rest of the gas to be sold on the open market.[2]

South Korean firm POSCO was awarded the contract to build both the power plant and LNG terminal.[3] Beyond the terminal's primary purpose of providing gas to the on-site power plant, it is said to be able to power 15 million households and some industry near the Panama Canal and Colón.[4]

In 2012, Panamanian President Ricardo Martinelli signed a law that would increase the role of natural gas in Panama's economy. The law provided incentives for the promotion of natural gas projects that supply local power plants for energy generation, increasing the likelihood of new natural gas project proposals in the future.[5]

In August of 2018, AES inaugurated AES Colón, the 381 MW combined cycle power plant and the first liquefied natural gas (LNG) terminal in Central America. The plant and regasification terminal were expected to begin commercial operations on September 1, 2018, and the LNG tank, the largest in the Caribbean, was expected to begin operations on schedule in the second half of 2019.[6]

In October 2019, the terminal started full operations with the inauguration of its storage terminal.[7]

Articles and resources

References

  1. "Panama breaks ground at its LNG-to-power project". Offshore Energy. May 27, 2016.
  2. "ENGIE and AES Agree to Expand their LNG Marketing Partnership to Central America | ENGIE". Engie press release. May 5, 2017.
  3. "Costa Norte project". BNamericas. Retrieved 2021-01-25.
  4. "Posco to build power plant and LNG terminal in Panama". NS Energy. February 21, 2016.
  5. Panama: Law Encourages Natural Gas Energy, Central America Data, accessed September 2017
  6. AES Announces Inauguration of AES Colón CCGT and Central America’s First LNG Terminal Business Wire, accessed February 2019
  7. "AES inaugurates AES Colón LNG storage tank Offshore Energy, Oct. 18, 2019

Related GEM.wiki articles

External resources

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