AES and Engie have agreed to create a joint venture to market and sell liquefied natural gas to third parties in Central America.

The new company will use infrastructure of the Costa Norte LNG Terminal, which is currently under construction in Colón, Panama, owned 50/50 by AES and Inversiones Bahia.

The total capacity of Costa Norte LNG Terminal is approximately 1.5 million metric tons per year (mtpa), of which 25% will go to AES Colón’s 380 MW combined cycle plant (CCGT), currently under construction at the same site.

From a statement issued by AES Panama:

ARLINGTON, Va. and PARIS, France, May 5, 2017 – ENGIE and AES Corporation (NYSE: AES) have agreed to enter into a joint venture to market and sell liquefied natural gas (LNG) to third parties in Central America. 

The joint venture will use the Costa Norte LNG Terminal infrastructure currently under construction in Colón, Panama, owned 50/50 by AES and Inversiones Bahia.  Costa Norte LNG Terminal’s total capacity is approximately 1.5 million metric tons per year (mtpa), of which 25% will go to AES Colón’s 380 MW CCGT plant, currently under construction at the same place. The remaining capacity of the terminal is available for the joint venture to market and sell to third parties, including up to 0.7 mtpy of LNG from ENGIE, through the Cameron gas liquefaction project in the United States.