The US energy group AES Corporation has inaugurated its 381 MW (gross) Colón gas-fired combined-cycle (CCGT) power plant in Panama, which is scheduled to be commissioned for 1 September 2018, along with the associated 1.6 Mt/year LNG regasification terminal; the related LNG tank would be operational by the second half of 2019.
The LNG import terminal will feature a 180,000 m3 storage tanks and vaporisers to supply gas to the plant. AES's subsidiary Gas Natural Atlántico will import up to 0.4 Mt/year of LNG from Engie from the United States (roughly US$140m/year) as of 2018 over a 10-year period, i.e. 1/4 of the LNG terminal's capacity of 80 TBtu (1.6 Mt/year). The 60 TBTu (1.1 Mt/year) of excess capacity available through the Colón project will be distributed throughout Central America, creating the potential for a total export value of US$500m/year.
The power and LNG complex was built with a total investment of US$1.15bn. Once ready, it will be able to supply gas to Central America and Caribbean markets and provide an alternative for oil-fired power generation.