C. B. Fenton, part of Ultramar (Chile), and Kanfer Shipping signed a Memorandum of Understanding (MoU) in December 2022 with the purpose of establishing an LNG bunkering hub and small-scale LNG distribution in Panama, reports Hydrocarbon Engineering.
The two parties are now moving forward and bringing onboard Melones Oil Terminal (MOTI). MOTI is among the largest and most influential marine fuel oil terminal operators in Panama, providing reliable and safe storage of marine fuels. MOTI and its affiliate company, Trader Tankers, view LNG as the transition fuel for the maritime industry and see Panama as a strategic location for LNG bunkering.
LNG bunkering MoU
For this reason, the parties have signed an MoU with the purpose of commercialising small-scale LNG bunkering and distribution in Panama and more specifically in Balboa. MOTI is on the Pacific side of Panama where about 80% of the conventional bunkering is being done today. The parties aim to establish a small-scale LNG terminal on the Pacific side, to serve the ports along the Pacific side of Panama and carry out small scale LNG distribution along the coast.
The partners have had many discussions with various LNG sources and have identified most of the sources in the region.
The Group is now determined to bring this project to commercialisation and will be starting a feasibility study, including bringing in another solid partner from the LNG bunkering and distribution value chain. The discussions with such parties have already commenced.
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Source: Hydrocarbon Engineering
