Panama puts itself forward

The Central American nation wants to make the most of its geographical position to supply the rest of the continent with energy

Panama's government wants to use its pivotal location and liberal fiscal policies to transform the country into a regional power and energy hub, putting itself ahead of competitors in the region. Last year's $5.4bn extension of the Panama Canal, which has created the option for ships carrying cargoes of liquefied natural gas to travel between the US and Asia, is a catalyst for the development of a gas hub. The US-based AES Corporation—an electric power distribution company—will open the 1.5m-tonnes-a-year Costa Norte LNG terminal and power project in Colon, at the entrance of the Panama Canal, next year. A gas-fired power plant is expected to come online in the third quarter of 2018, followe