The Panama Canal Authority is in the process of an ambitious energy pipeline project, creating what is being called the Interoceanic Energy Corridor.
The new natural gas pipeline project will offer companies an alternative to move the natural gas commodities across the critical global shipping gateway.
This corridor will facilitate the transportation of propane, butane, and ethane between the Gulf of Mexico and Northeast Asia, freeing up canal capacity without additional water usage.
The planned infrastructure includes a 76-kilometer pipeline with a transfer capacity of up to 2.5 million barrels per day, supported by maritime terminals on the Atlantic and Pacific.
The pipeline is expected to create more than 45,000 jobs during construction and 11,000 during operations, contributing more than B/. 64 billion throughout its lifespan. In addition, it is projected to generate more than B/. 647 million for the State during execution of the project and over B/. 35 billion between 2031 and 2050, resources that will be directed to social projects.
Announced during an initial market engagement event held in Panama City, the pipeline is part of a broader strategy to strengthen Panama’s competitiveness and meet the demands of the global energy market.
The gathering brought together more than 45 representatives from global energy companies. The gathering included companies (among others) such as ExxonMobil, Shell, Mitsubishi, Japan Bank for International Cooperation (JBIC) and SMBC (Sumitomo Mitsui Banking Corp).
As it is reported, the Panama Canal Authority has officially launched the concessionaire selection process for its new energy pipeline project, with the expectation of attracting world-class companies.
This will include a prequalification stage, a stage of interaction and dialogue with the prequalified companies, and a final stage for selecting the concessionaire.
The prequalification of companies that will then participate in the interaction and dialogue stage will be finalized this year.
According to the announcement, the final concessionaire selection is scheduled to conclude during the fourth quarter of 2026.
