Seaspan and AES to collaborate on LNG bunkering services in Panama Canal
Seaspan and AES to collaborate on LNG bunkering services in Panama Canal - Offshore Energy
Seaspan and AES to collaborate on LNG bunkering services in Panama Canal
Canada-based Seaspan and global energy company AES have signed a memorandum of understanding (MoU) to collaborate on LNG bunkering business development.
The companies signed the MoU in the framework of the 3rd International LNG Global Forum in Cartagena, Colombia, which took place from October 2 to October 4, 2023.
As disclosed, their collaboration will be mainly aimed at providing LNG bunkering services to shipping vessels crossing the Panama Canal.
It will also explore options to provide this and similar services in regional markets within the area of influence of the Costa Norte LNG terminal, owned by AES, located in Colón, Panama.
Currently, AES is developing a project to expand the terminal that contemplates a new LNG refueling infrastructure in methane tankers (ship loading facility) that together with the arrival of a small-scale methane tanker to Panama, provided by Seaspan ULC, destined for final deliveries of LNG, will allow the commercialization of LNG as marine fuel from the second half of 2024, and eventually its delivery in other alternative regional markets.
The facility is scheduled to begin operations in November 2023 as an integral part of the services of the Costa Norte LNG terminal in the province of Colon, Panama. It will offer cool down, temporary storage and reloading services, and refueling for bunkering and regional distribution.
“Seaspan is proud to collaborate with AES to provide LNG bunkering in the Panama region and lead the way in providing energy transformation opportunities in the global marine sector. Together we will provide low-carbon solutions for ship owners who want to decarbonize their operations and transition to cleaner marine fuels,” said Ian McIver, president of Seaspan Energy.
“We are on the doorstep of a new era in sustainable energy. The collaboration with our shipowner partner and the innovations at our Costa Norte Terminal position us as leaders in driving sustainable, efficient, and affordable solutions to meet the growing demands of the market,” stated Miguel Bolinaga, president of AES in Panama.
In the meantime, Chinese shipbuilder CIMC Sinopacific Offshore & Engineering (CIMC SOE) is building two 7,600 cubic meter LNG bunkering ships for Seaspan.
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.