Last week, Assistant Secretary for Fossil Energy (ASFE) Steven Winberg traveled to the Republic of Panama to help inaugurate the AES Colon Natural Gas Power Plant, the country’s first natural gas plant. While there, he joined U.S. Department of Treasury Undersecretary for International Affairs David Malpass in signing a Memorandum of Understanding (MOU) with the Panamanian government to promote cooperation between the United States and Panama on energy and infrastructure investment.
ASFE Winberg spoke of the significance of the plant for both countries during the ceremony saying, “We’re proud that U.S. natural gas is playing a role in the success of the AES Colon power plant. And, we stand ready to help you diversify your energy sources as you expand economic growth and prosperity for Panama.”
The MOU’s signing officially marked the start of a U.S. initiative called America Crece, or “The Americas Grow.” This initiative aims to increase trade and investment in energy and infrastructure, expand private investment flows, and develop deeper regional capital markets.
During the inauguration ceremony for the AES Colon plant, ASFE Winberg spoke of Panama’s potential as a regional LNG hub. To that end, the plant represents important milestones for both nations. Not only is it the first natural gas-fired plant in Panama, but it is also being supplied by the first LNG imports to Central America from the United States.