Page 13 - GLNG Week 37 2021
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GLNG AMERICAS GLNG
AES expands LNG
footprint in Panama
INVESTMENT US-BASED AES has bought out its minority Gustavo Pimenta, AES’ executive vice-pres-
partner in AES Colón, the operator of a natural ident and CFO, spoke similarly. “We are glad to
gas complex on Telfers Island, near the Atlantic continue executing on our LNG strategy in Cen-
end of the Panama Canal. tral America and the Caribbean. This acquisition
AES announced the acquisition in a statement will position AES to incorporate new strategic
dated September 14, saying that it had acquired partners into these LNG assets and continue
a 49.9% stake in the complex from Inversiones unlocking the portfolio’s value,” he commented.
Bahia, a private Panamanian firm involved in AES Colón spent around $1.15bn on building
asset management and capital investment. The its gas complex, which began operating in 2018.
deal brings AES’ holdings in AES Colón up from The facility includes an LNG regasification plant,
50.1% to 100%, the statement said. a 180,000 cubic metre gas storage tank, a termi-
As of press time, the company had not nal that can transfer LNG to trucks for overland
revealed the value of the transaction. AES repre- delivery, a pier that can berth ships with storage
sentatives noted, though, that the deal was in line capacities of 3,000-160,000 cubic metres and a
with the company’s efforts to expand its LNG-re- 381-MW combined-cycle TPP.
lated business in the region. Last year, AES Colón revealed that Colón
“This transaction reaffirms AES’ commit- LNG Marketing, its partnership with TotalEner-
ment to Panama and represents a new milestone gies (France) and Inversiones Bahía, had agreed
in the execution of our regional LNG strategy to to work with an affiliate of Tropigas (Domin-
deliver cleaner, reliable and efficient energy to ican Republic) to distribute LNG by truck in
our clients,” said Juan Ignacio Rubiolo, the pres- Panama and Costa Rica. The parties agreed to
ident of AES’ Mexico, Central America and the source LNG for the project from the AES Colón
Caribbean Strategic Business Unit. “This acqui- complex, saying they could use tanker trucks to
sition will contribute to maximising the value of distribute fuel to industrial and business con-
our regional LNG business through the devel- sumers such as TPPs, manufacturing facilities,
opment of important synergies and flexibility hotels, food and beverage suppliers and trans-
across our portfolio.” port companies.
Week 37 17•September•2021 www. NEWSBASE .com P13
