Panama will spend $300 million on a liquid natural gas, or LNG, terminal and $ 130 million on a gas-fired generating plant, the country’s ministry of finance said.

The projects will help meet the country’s growing energy demand, and reduce the use of liquid fuels, the statement said.

The LNG terminal will allow the country to receive, store, and then
regasify LNG cargos in Colon, which is near the Atlantic entrance to
the Panama Canal.

The projects will take around five years to complete.

On Wednesday morning, the Chief Executive of Toronto-listed oil company
Pacific Rubiales Energy Corp. , Ronald Pantin, said the company plans
to start exporting gas to Panama and elsewhere in the Caribbean in the
near future.

Source: Nasdaq

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• Strike in the ports of Panama

    Employees of tug operator Smit Panama have announced a strike to start from 0800 hours local time Monday, December 14. Smit Panama is said to be in discussions to secure an agreement with its employees as soon as possible.

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    In today’s PTI Media Watch: How U.S.

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• Panama Canal Gets like to dredge the entrance Atlantic

     The Panama Canal Authority said it has received bids from a number of global engineering and construction firms for the contract to dredge the Atlantic entrance to the canal. The Atlantic entrance dredging project is part of the Canal’s $5.25 billion expansion program to ensure larger, wider ships can reach the

• Costa Rica company to join the consortium digging the Panama Canal expansion

    Costa Rica’s Meco will be joining the Spanish construction company FCC and Mexico’s ICA as part of a consortium for the dry excavation of the Panama Canal extension in a contract worth us$267.8 million dollars. The consortium beat out Belgium’s Jan de Nul, Brazil’s Oderbrecht and the ISC Panama consortium

• Magnetometer Aid Panama Canal expansion

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• Magnetometer Aid Panama Canal expansion

    The Panama Canal expansion project is yielding some interesting ‘artifacts’.

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• Government of India for the award of INR 20,000 crore port projects

    It is reported that ministry of shipping is planning to award 28 projects worth INR 20,214 crore in 2009-10. According to a senior official these include nine projects which were supposed to be awarded in 2008-09 worth INR 4,244 crore. These comprise construction of deep draft berths at Paradip port

• Alberto Alemán Zubieta (Panama) receives International Maritime Prize

    The prestigious International Maritime Prize for 2008 has been presented to Mr.