Gaspipeline update – Two weeks ago the Panama Canal Authority (ACP) held a market engagement event, marking the start of the concessionaire selection process for its new interoceanic gas pipeline project. More than 45 representatives from global energy companies participated in the event.
The pipeline is a key part of the new energy corridor project on the west bank of the Panama Canal, aimed at the diversification and sustainable development of canal operations. The corridor is designed to enable the transport of propane, butane, and ethane between the Gulf of Mexico and Northeast Asia. It helps to ease congestion in the canal, minimizing waiting times, without increasing water consumption.
The 76-kilometer pipeline, capable of transferring up to 2.5 million barrels per day, would be supported by maritime terminals on both the Atlantic and Pacific coasts. The estimated value of the project would be between $4 billion and $8 billion, depending on the business model adopted.
In this initial stage, the Panama Canal Authority is gathering valuable input from potential concessionaires regarding the proposed framework, responsibilities, and concession model. One-on-one meetings will be arranged with parties interested in taking part in the concessionaire selection process.
The companies participated in this first event: CB Fenton & Co. 🇵🇦 , ENEOS 🇯🇵 , Energy Transfer 🇺🇸, ExxonMobil 🇺🇸, Fortress Investment Group 🇺🇸 , Gyxis Corporation 🇯🇵 , ITOCHU Corporation 🇯🇵 , Japan Bank for International Cooperation (JBIC) 🇯🇵 , Mitsubishi Power 🇯🇵 , Movement Industries 🇺🇸 , Nippon Koei LAC 🇯🇵 , OTAMERICA (Oiltanking America) 🇩🇪 , Phillips 66 🇺🇸 , Promigas 🇨🇴, Puma Energy 🇨🇭, Regent Energy Group 🇵🇦 , Shell 🇬🇧 , SK energy 🇰🇷, Sumitomo Corporation 🇯🇵 , SMBC Group (Sumitomo Mitsui Banking Corp) 🇯🇵 , Targa Resources 🇺🇸 , Ultranav 🇩🇰 and Vitol 🇳🇱 .
The prequalification of companies set to take part in the interaction and dialogue phase will be completed within this year. The concessionaire will be officially selected by the end of 2026.