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BAM and Iconsa to build Costa Norte LNG terminal in Panama

Mon 14 Nov 2016 by Karen Thomas

BAM and Iconsa to build Costa Norte LNG terminal in Panama
Costa Norte LNG will be the first LNG-import terminal in central America

US power firm AES has awarded the design and construction contract for Panama’s Costa Norte LNG import jetty and intake/outfall structure to a joint venture between BAM International and Iconsa.

Costa Norte LNG will be the first LNG-import terminal in central America, built to handle LNG carriers with capacity for 30,000m³-180,000m³. It lies near the Caribbean entrance to the Panama Canal at Colon.

“Taking advantage of its strategic location close to the Panama Canal and optimising its logistical infrastructure, the Costa Norte terminal will provide a platform for the larger use of natural gas in Panama's economy beyond Gas Natural Atlantico, in particular for bunkering,” AES says.

The US$1.1 billion gas-to-power project will sell 350MW of capacity to distribution companies Edemet, Ensa and Edechi under a 10-year power-purchase deal signed in September last year. Costa Norte LNG will sell any surplus energy to the Panama wholesale electricity market.

AES is developing the project via two special-purpose vehicles; Gas Natural Atlantico and Costa Norte LNG Terminal. It has named Posco E&C of South Korea the main contractor. BAM Iconsa is working on the designs and plans to start work on site early next year.

The two companies will design and build the marine infrastructure, including an LNG jetty with a 216m trestle, a 50m by 35m platform, four breasting dolphins, six mooring dolphins and intake/outfall structures. BAM Infraconsult will help to design the jetty.

BAM said in a statement that the contract is worth some US$39 million. Iconsa is a Panama-based marine construction firm. 

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