Project Profile
Value: US$1.1 billion
Location: colon Province, Panama, South America
Capacity: 30,000m³-180,000m³
Start-up Year: 2018
The Costa Norte LNG Terminal is located near the Caribbean entrance to the Panama Canal at colon Province, South America. Costa Norte LNG will be the first LNG-import terminal in Central America, built to handle LNG carriers with capacity for 30,000m³-180,000m³. The Costa Norte terminal will provide a platform for the larger use of natural gas in Panama\'s economy beyond Gas Natural Atlantico, in particular for bunkering. The US$1.1 billion gas-to-power project will sell 350MW of capacity to distribution companies Edemet, Ensa and Edechi under a 10-year power-purchase deal signed in September 2015. Costa Norte LNG will sell any surplus energy to the Panama wholesale electricity market. Major features of this project includes 3 gas turbines and 1 steam turbine, Gas storage container of 170,000 m3, Dock for ships that have 153,000 m3 LNG capacity, 300 metre terminal, Floating, Storage & Offloading (FSO) unit.
In February 2016 Posco E&C secured a US$650 million engineering, procurement and construction (EPC) contract to build a 180,000m3 LNG terminal and 380MW combined-cycle power plant at colon in Panama, under an agreement with Gas Natural Atlantico and Costa Norte LNG terminal. In November 2016, US power firm AES has been contracted for the design and construction for Costa Norte LNG import jetty and intake/outfall structure to a joint venture between BAM International and Iconsa. AES is developing the project via two special-purpose vehicles; Gas Natural Atlantico and Costa Norte LNG Terminal.
Engie of France has signed a memorandum of understanding with Gas Natural Atlantico for the supply of LNG at Costa Norte terminal in the colon Province, Panama. Under the binding MoU, Engie will deliver up to 400,000 tons of liquefied natural gas per year over a 10-year period, starting in 2018. Gas Natural Atlantico and Costa Norte LNG are both Panama units of AES. The two companies are developing an LNG to power project at the entrance of the Panama Canal, scheduled for completion in 2018.
BAM Iconsa is working on the designs and plans to start work on site early 2017. The two companies will design and build the marine infrastructure, including an LNG jetty with a 216m trestle, a 50m by 35m platform, four breasting dolphins, six mooring dolphins and intake/outfall structures. BAM Infraconsult will help to design the jetty.
Operators:
BAM International: 50% interest
Iconsa: 50% interest
Contractors:
AES: Contracted for the design and construction for Costa Norte LNG import jetty and intake/outfall structure.
Posco E&C: Hired for engineering, procurement and construction (EPC) work.