November 2, 2023 [Manifold Times]- Duo signed a MOU to provide the services to vessels crossing Panama Canal as well as exploring options to provide this in regional markets within area of influence of Costa Norte LNG terminal.

Seaspan on Thursday (5 October) said it has signed a Memorandum of Understanding (MoU) with global energy company AES mainly aimed at providing Liquefied Natural Gas (LNG) bunkering services to shipping vessels crossing the Panama Canal.

The duo will also be exploring options to provide LNG bunkering 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 aforementioned 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 commercialisation of LNG as marine fuel from the second half of 2024, and eventually the delivery of this type of hydrocarbon, more environmentally friendly, in other alternative regional markets.

The Ship Loading Facility is scheduled to begin operations in November of this year as an integral part of the services of the Costa Norte LNG terminal in the province of Colon, Panama. This infrastructure promises to change the landscape of the regional energy sector, enabling the terminal to offer services for the LNG industry.

Cool down: cooling service for LNG carriers reloading or resuming marine operation after a period of maintenance downtime.

Temporary storage and reloading: with the capacity of the Costa Norte storage tank (180,000 m³), different market operators will be able to store their LNG temporarily and withdraw it on demand.

Refueling for bunkering and regional distribution: with a model that replicates the operation of the world’s main terminals, the Costa Norte terminal will enable the delivery of stored LNG to be used both for LNG supply, as marine fuel for the growing fleet transiting the Panama Canal, and for emerging markets in neighboring countries.

“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,” said Miguel Bolinaga, president of AES in Panama.

These achievements mark the beginning of a revolutionary transformation in the sustainable energy landscape that benefits both Panama and the region.

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