AES to inaugurate Costa Norte LNG storage tank in October

The US energy company AES Corporation is moving closer to starting the operations at the liquefied natural gas storage tank of the AES Colón plant.

The company said it is in the final stage of acquiring all the permits to begin operations of the LNG storage tank in September with the inauguration scheduled for October.

According to the company, 25 percent of the AES Colón’s LNG storage tank capacity will be used for energy production at the plant while the remaining 75 percent will be used for commercialization both locally and regionally.

The construction of the tank took about 39 months and the facility is ready to serve its first customers. Island Power, a Trenco Group company and Grupo Eleta signed the first contract for the supply of liquefied natural gas (LNG) in the Republic of Panama and Central America with a 10-year term.

Commercial operations at the AES Colón combined-cycle power plant and the Costa Norte LNG import facility have been inaugurated in September last year.

The combined facility, which represents a $1.15 billion investment, will cater to the growing need for natural gas in Central America and the Caribbean and will provide an alternative to oil-fired power generation.

The US energy company AES Corporation, through AES Colon, has a 50.1 percent stake in the LNG-to-power project while the other 49.9 percent share belongs to Inversiones Bahia.

LNG World News Staff