Panama recently started importing liquefied natural gas (LNG). The country already plays an important role in international trade and business, and energy import-export operations. This position has been steadily increasing since the expansion of the canal in 2016.
The first LNG facility in Central America is the Costa Norte terminal, a joint venture by AES Panama and Inversiones Bahia built as part of a $1 billion LNG-to-power project. The terminal has a 180 000 m3 storage tank, and has been designed as a hub facility, with the ability to fill tankers and reload gas carriers.
The Costa Norte terminal enables Panama to have diversity in its energy supply, adding LNG to its current use of hydropower in its commitment to replace fossil fuels. This project will help deliver stability in energy prices, as well as opportunities as a hub for LNG for the Central American region.
