Panama LNG Bunkering Project Brings in Local Terminal Operator
The Melones Oil Terminal is on the Pacific side of the Panama Canal. Image Credit: Melones Oil Terminal
Shipping agency CB Fenton and Norway's Kanfer Shipping have added a terminal operator to their project to bring an LNG bunkering operation to Panama.
Melones Oil Terminal has now joined the project, the companies said in a joint statement on Thursday.
The three firms have now signed a memorandum of understanding aimed at setting up LNG bunker supply near Balboa. CB Fenton and Kanfer had originally signed an MoU in December 2022.
The next step for the project will be a feasibility study, and to bring in another partner from the LNG bunkering and distribution value chain.
"We are proud to be part of this select group of companies leading the way in the decarbonisation of the maritime industry," Horacio Cofer, CEO of Melones Oil Terminal, said in the statement.
"As leading companies in the marine product segments, we have a responsibility to look for solutions for decarbonisation in the industry.
"This MoU is just the first step in what promises to be a fruitful collaboration."
The companies intend for the operation to be up and running by late 2025 or early 2026.