Americas News
ENGIE and AES to Enter JV Expected to "Pave the Way" for Provision of LNG Bunkering in Central America
AES Corporation (AES) and ENGIE have announced that they will enter into a joint venture (JV) to market and sell liquefied natural gas (LNG) to third parties in Central America - an agreement expected to "pave the way" for ENGIE and AES to provide bunkering services, supply LNG to industrial customers, and develop small scale demand.
"ENGIE's and AES' objective continues to focus on providing a cleaner and more cost-effective alternative to oil-fueled power generation, while at the same time satisfying a growing need for natural gas in Central America and the Caribbean," said AES.
The new JV will serve to strengthen the joint marketing agreement signed by the two companies late last year, says AES.
Under that agreement, both groups agreed to jointly market LNG in the Caribbean from AES' Andres regasification facility in the Dominican Republic.
The new JV will utilise the Costa Norte LNG terminal currently under construction in Colón, Panama, which is owned under a 50/50 split by AES and Inversiones Bahía.
"The combined regasification capacity of Andres in the Dominican Republic and Costa Norte in Panama is approximately 3 mtpa," notes AES.
In February, ENGIE announced that, along with Fluxys, Mitsubishi Corporation (Mitsubishi), and Nippon Yusen Kabushiki Kaisha (NYK), it has taken delivery of what it calls the world's first purpose built liquefied natural gas (LNG) bunkering vessel (LBV), ENGIE Zeebrugge.
