Panama Colon is suitable for new energy storage in the northwest

Is Panama a destination for LNG exporters?

For LNG exporters, Panama can now be a destination rather than just a transit through the Panama Canal. Costa Norte Terminal, located in Colon, at the Caribbean entrance of the Panama Canal, is the first LNG facility in Central America. It has a 180,000 cubic meters storage tank, designed as a hub facility, can fill tankers and reload gas carriers.

Why is Panama a great LNG hub?

Panama is well known for its strategic geographical location and as a trade and financial hub for the Americas. With the first LNG terminal in the Region and a long-term government strategy, Panama is well-positioned to be the LNG hub and a key player in Central America’s energy integration.

Where does LNG come from in Panama?

It has a 180,000 cubic meters storage tank, designed as a hub facility, can fill tankers and reload gas carriers. The LNG imported to Panama is from Texas and Louisiana and is destined for Panama and other Central American countries. The National Energy Plan (PEN) envisions that by 2030, 15% of Panama’s generation capacity will come from LNG.

Who built the first natural gas plant in Panama?

Inversiones Bahia and AES Corporation has built the first natural gas-based power generation plant of 381 MW and the first liquefied natural gas (LNG) reception terminal in Panama and Central America, AES Colón.

Where will POSCO E&C build a combined cycle power plant?

POSCO E&C will build the combined cycle power plant with generating capacity totaling 380 MW and the LNG terminal with a capacity of 180,000 m3, located in Colon the Panamanian city and sea port beside the Caribbean Sea.

What is Panama known for?

Panama is known for its strategic geographical location and for being the first Central American country with an Liquified Natural Gas (LNG) terminal.