The Panama Canal has officially initiated the concessionaire selection process for the development of an interoceanic gas pipeline, with a first market approach that brought together more than 45 representatives of global energy companies.
Construction of the inter-oceanic gas pipeline
The gas pipeline 76 kilometers long, will have the capacity to transfer up to 2.5 million barrels per day and will be supported by marine terminals in the Atlantic and Pacific. It aims to move propane, butane and ethane between the Gulf of Mexico and northeast Asia, freeing up Canal capacity without increasing water use.
During this initial phase, the Panama Canal is seeking feedback from potential concessionaires on the project structure, operational roles and concession model. In addition, it plans to hold individual meetings with interested companies, and it is estimated that the concessionaire will be selected in the fourth quarter of 2026.
Among the companies participating in this first approach are industry representatives such as ExxonMobil, Shell, Mitsubishi, Phillips 66, Sumitomo Corporation, SK Energy, Energy Transfer, Vitol, Promigas, Puma Energy, Ultranav, Fortress Investment Group, CB Fenton & Co, ENEOS, Itochu Corporation, JBIC, Movement Industries, Nippon Koei, Otamerica, Regent Energy Group, Targa Resources and SMBC.
The Panama Canal has reaffirmed its commitment that the project will meet the highest international standards of safety, environmental protection and operational excellence. The selection process will be transparent and competitive, with the expectation of attracting world-class companies.
Source and photo: Panama Canal
