Panama Canal Authority Launches Concession Process For New Energy Pipeline Project

The Panama Canal Authority (ACP) has officially launched the concessionaire selection process for its new energy pipeline project with an initial market engagement event held in Panama City. The gathering brought together more than 45 representatives from global energy companies.

The pipeline, a cornerstone of the new interoceanic energy corridor, marks the first major development of this infrastructure platform. It is designed to strengthen Panama’s competitiveness while meeting a strategic demand in the global energy products market.

This corridor will facilitate the transportation of propane, butane, and ethane between the Gulf of Mexico and Northeast Asia, thereby, freeing up canal capacity without additional water usage. The ACP’s objective is to enhance the canal’s performance by reducing vessel wait times. Therefore, securing its long-term reliability and competitiveness.

Meter 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 Panama Canal is committed to ensuring that the initiative complies with international standards of safety, environmental protection, and operational excellence.

During this early phase, the ACP seeks important feedback from potential concessionaires on the proposed structure, roles, and concession model. Individual meetings will be held with those interested in participating in the concessionaire selection process.

In this initial market engagement event, the following companies participated: CB Fenton & Co, ENEOS, Energy Transfer, ExxonMobil, Fortress, Gyxis Corporation, Itochu Corporation, Japan Bank for International Cooperation (JBIC), Mitsubishi, Movement Industries, Nippon Koei, Otamerica, Phillips 66, Promigas, Puma Energy, Regent Energy Group, Shell, SK Energy, Sumitomo Corporation, SMBC (Sumitomo Mitsui Banking Corp), Targa Resources, Ultranav, and Vitol.

Profiles of the participating companies:

CB Fenton & Co

A Panamanian company founded in 1916, specializing in port agency and logistics tied to the Panama Canal. Since 2012 it has been part of Chile’s Ultramar Group, providing maritime, port, and logistics services.

ENEOS

Founded in 1888 and headquartered in Tokyo, ENEOS manufactures and markets lubricants across Asia, partnering with automakers and racing teams to develop products for performance, fuel efficiency, and long-term engine protection.

Energy Transfer

Based in the United States, it is one of the largest energy infrastructure operators with more than 130,000 miles of pipelines. The company is dedicated to the transport, storage, and export of natural gas, oil, and refined products.

ExxonMobil

A multinational energy company headquartered in Houston, Texas, with operations in more than 56 countries. It focuses on oil and gas exploration, production, refining, fuel marketing, chemicals, and low-carbon solutions.

Fortress Investment Group

Founded in 1998 and headquartered in New York, Fortress is a global investment firm specializing in private equity, credit, liquid markets, and asset management. It manages more than USD 44 billion in assets worldwide.

Gyxis Corporation

Established in 2015 and headquartered in Tokyo, Gyxis was formed through the consolidation of several LPG companies. It is engaged in the import, storage, transport, and global distribution of liquefied petroleum gas.

Itochu Corporation

A Japanese sogo shosha founded in 1858 and headquartered in Tokyo, operating in 61 countries. It is active in energy, textiles, metals, food, technology, and environmental solutions.

Japan Bank for International Cooperation (JBIC)

A public financial institution of the Japanese government founded in 1999 and based in Tokyo. JBIC finances strategic international projects, supports Japanese exports and investments, and promotes sustainability.

Mitsubishi

Founded in 1954 in Japan, Mitsubishi is a global trading and investment company. Through its Environmental Energy Group, it promotes stable energy supply and carbon neutrality with solutions in natural gas, LNG, oil, and LPG.

Movement Industries

Headquartered in Texas, it invests in emerging companies in energy, oil and gas, renewables, agriculture, and industry. The company offers flow control systems, automation, IoT, and industrial services.

Nippon Koei

A Japanese engineering consultancy founded in 1946 and headquartered in Tokyo. It is recognized for its global expertise in infrastructure, energy, transport, and sustainability projects.

Otamerica (Oiltanking America)

Part of Germany’s Marquard & Bahls Group with operations across Latin America. It provides tank storage and logistics services for oil, gas, and chemicals.

Phillips 66

A U.S. company headquartered in Houston, Texas, with nearly 150 years of history. It operates in refining, midstream, chemicals, and global fuel marketing.

Promigas

A Colombian company leading in natural gas transport and distribution in Colombia and Peru. It manages pipelines, a regasification terminal, and renewable energy projects.

Puma Energy

Headquartered in Switzerland and operating in more than 35 countries. The company is dedicated to refining, storage, distribution of fuels, retail, aviation, and renewable energy.

Regent Energy Group

Based in Panama, it is an independent supplier specializing in fuel oil and diesel. It operates with a fleet of vessels and strategic partnerships.

Shell

A global energy group headquartered in London and operating in more than 70 countries. Shell produces oil and gas and advances low-carbon energy, hydrogen, electric mobility, and biofuels.

SK Energy

Headquartered in Seoul and part of SK Group, SK Energy specializes in oil refining and fuel marketing. It is also advancing its transition into renewable energy.

Sumitomo Corporation

A Japanese sogo shosha founded in 1919 and headquartered in Tokyo. The company operates across sectors including steel, transport, automotive, chemicals, energy, urban development, and sustainability.

SMBC (Sumitomo Mitsui Banking Corporation)

Founded in 2001 and headquartered in Tokyo, SMBC is one of Japan’s leading commercial banks. It offers corporate and retail banking, structured finance, trade services, and global financial solutions.

Targa Resources

A U.S. company based in Houston, Texas, focused on midstream services. It owns and operates infrastructure for the transport, storage, and processing of natural gas and NGLs.

Ultranav

A privately held Danish shipping company with more than six decades of experience and presence in 17 countries. It provides maritime transport of oil, gas, dry cargo, coastal trade, and offshore towage services.

Vitol

Founded in Rotterdam in 1966, Vitol is a global energy and commodities company. With operations in Switzerland, the UK, the U.S., Singapore, and Bahrain, it manages refineries, service stations, and energy projects.

Next Steps

• 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. The final concessionaire selection is scheduled to conclude during the fourth quarter of 2026. This process will be transparent and competitive with the participation of leading global companies.

Press Release

Source: Maritime Shipping News