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LatinNews Daily - 22 October 2019
In brief: New LNG hub in Panama begins operations
* The US electricity power distribution company AES Corporation (AES) has announced the start of operations of the first liquefied natural gas (LNG) hub in Panama and Central America, located at the AES Colón plant. The AES Colón project, which includes a private investment of US$1.15bn, of which 51.1% is from AES and the rest from its Panamanian partner, Inversiones Bahía, consists of a 180,000m3 LNG tank and a 381MW combined cycle power plant which had been previously operating with gas from temporary sources. The commercial operation of the LNG storage facility will allow for the use of LNG throughout the region and establish Panama as the natural gas hub for Central America. The use of LNG helps both reduce CO2 (carbon dioxide) emissions and increase renewable energy penetration. Furthermore, LNG conversion lowers electricity costs and provides greater price stability to support economic growth. AES has reserved 80% of AES Colón’s terminal capacity for use by industrial and commercial companies in Panama and Central America.
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