Name and Location
Costa Norte liquefied natural gas (LNG) project, Colon, Panama.
Client
Gas Natural Atlántico and Costa Norte LNG Terminal, both subsidiaries of AES Panamá, won a competitive bid process in September 2015 conducted by the Electric Transmission Company to build the project.
Project Description
The project comprises the development, construction, operation and maintenance of an integrated gas-to-power project on Telfers Island, in the province of Colon, on the Atlantic coast of Panama.
It will consist of a 380 MW combined-cycle gas turbine power plant and an onshore LNG import terminal with a 180 000 m3 storage tank.
The project includes the construction of power evacuation facilities to interconnect the generation plant with the existing electricity transmission network.
The LNG terminal will include a new berth for LNG ships and one above ground storage tank with 180 000 m3 of capacity.
The terminal and associated facilities will allow for the download of LNG on a pier parallel to the coast and cryogenic pipes up to the storage tank, through which gas will be transported at –160 °C, LNG storage in the storage tank, as well as regasification and onshore gas delivery to the power plant.
The plant and terminal will be built on a 20 ha site, located in an industrial area near the Atlantic entrance of the Panama Canal in Telfer Island.
Once the project is completed, it will sell 350 MW of capacity and associated energy to Edemet, ENSA and Edechi, under ten-year power purchase agreements awarded in September 2015. The remaining capacity and energy generated by the project will be sold on a merchant basis on Panama’s wholesale electricity market.
Value
The project is estimated at $1.1-billion.
Duration
The project is expected to begin construction by the end of this month and come on line in 2018.
Latest Developments
Engie has signed a binding memorandum of understanding with Gas Natural Atlántico, under which Engie will supply up to 400 000 t/y of LNG from 2018 for a ten-year period to the Costa Norte LNG Terminal.
Key Contracts and Suppliers
Engie (supply of LNG).
On Budget and on Time?
Not stated.
Contact Details for Project Information
AES Panamá, tel +507 206 2600 or email aes.panama@aes.com.
Engie, press contact, tel +33 1 4422 2435 or email engiepress@engie.com.