Aug 2018: AES Colón, a 381 MW combined cycle power plant and the Costa Norte LNG facility, the first liquefied natural gas terminal in Central America, have been inaugurated. They are expected to begin commercial operations in September.
Aug 2017: ION Geophysical announced a 2D multi-client offshore seismic survey supported by industry funding. This is the first survey in nearly 30 years and is ahead of an anticipated inaugural license round following exploration success off Colombia. Interpreted data will be available by mid-2018.
May 2016: Construction has begun on the first LNG-to-power project at the entrance of the Panama Canal in Colon Province providing 350 MW of new capacity. Work on the project is expected to be completed in 2018 which will use up to 400,000 tons of LNG per year.
Feb 2016: South Korea’s POSCO has executed a US$650 million turn-key contract with Gas Natural Atlantico and Costa Norte LNG Terminal to build a combined cycle power plant in Colon Province and an LNG import terminal with 180,000 cm storage capacity. It is Panama’s first investment in LNG.