Company name
Gas Natural Atlántico S. de R.L. and Costa Norte LNG Terminal S. de R.L.
Project number
PN-L1123
Category A projects could result in potentially significant environmental and/or social risks and impacts, which are diverse, irreversible, or unprecedented that may extend beyond the boundaries of the actual project site or facilities. In principle, Category A includes projects which have significant impacts on protected or sensitive areas21 and/ or vulnerable groups.
E&S category
A
Country
Panama
Sector
Energy
Status
Inactive
Disclosed date
10/20/2015
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/20/2016
Approval date
12/06/2016
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 50,000,000
Financing amount
USD $ 100,000,000
Currency
USD
Project scope and objective
The Costa Norte Power Generation Project (the Project), located in the Province of Colón around 80 km northwest of Panama City, consists of the design, construction, and operation of i) an 180,000 m3 liquid natural gas (LNG) storage tank; ii) a regasification facility; iii) a 381MW net combined cycle gas-fired power plant; and iv) a 230 kW transmission line of approximately 17 km connected to the National Interconnected System. The estimated total cost of the Project is up to US$900 million, and it will supply approximately 3,000 GWh of electricity annually.
The regasification facility will include a jetty and pipeline for transferring the LNG from tankers to the storage tank. The power plant will be the regasification terminal anchor client, absorbing around 25% of the total terminal capacity. The project has secured an LNG contract from an international supplier who will provide LNG to the project with full-size tankers (~155.000 m3). The liquid gas will be stored in a tank and, through a physical process, converted to a gas state for use in the power plant. The Project will include three 10-year fuel supply agreements.
The project, which will contribute to building a more dependable and clean energy matrix in Panama, is expected to have the following development outcomes: i) increase the base load energy available to the national grid by 381MW; ii) expand the participation of natural gas in the Panamanian energy matrix in lieu of other fossil fuels; iii) increase the LNG supply in Panama; iv) enable more efficient use of intermittent sources of renewable energy; v) create direct and indirect jobs; and vi) potentially reduce overall greenhouse gas emissions.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
31.7 Kb
ESRS- COSTA NORTE- SPA.PDF
728.6 Kb
EIA-TRANSMISSION LINE-COSTA NORTE 0.PDF
12.1 Mb
CUADROS DEL PLAN DE ACCION AMBIENTAL Y SOCIAL-COSTA NORTE 0.PDF
552.0 Kb