ENGIE and The AES Corporation (NYSE: AES) have agreed to enter into a
joint venture to market and sell liquefied natural gas (LNG) to third
parties in Central America.
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The joint venture will utilize the Costa Norte LNG terminal currently
under construction in Colón, Panama, which is owned 50/50 by AES and
Inversiones Bahía. The total capacity of the Costa Norte LNG terminal is
approximately 1.5 million tonnes per annum (mtpa), of which 25% will be
used for the 380 MW AES Colón CCGT currently under construction on the
same site. ENGIE will supply up to 0.4 mtpa of LNG to the CCGT beginning
in 2018. The remaining terminal capacity is primarily available for the
joint venture to market and sell to third parties, including up to 0.7
mtpa of LNG sourced from ENGIE mainly through the Cameron gas
liquefaction project in the United States.
This joint venture further strengthens the joint marketing agreement
signed by ENGIE and AES late last year, whereby both groups agreed to
jointly market LNG in the Caribbean, from AES’ Andres regasification
facility in the Dominican Republic. The combined regasification capacity
of Andres in the Dominican Republic and Costa Norte in Panamá is
approximately 3 mtpa.
ENGIE’s and AES’ objective continues to focus on providing a cleaner and
more cost-effective alternative to oil-fueled power generation, while at
the same time satisfying a growing need for natural gas in Central
America and the Caribbean. This new agreement will pave the way for
ENGIE and AES to supply LNG to industrial customers, develop small scale
demand and provide bunkering services.
About ENGIE
ENGIE develops its businesses (power, natural gas, energy services)
around a model based on responsible growth to take on the major
challenges of energy’s transition to a low-carbon economy: access to
sustainable energy, climate-change mitigation and adaptation and the
rational use of resources. The Group provides individuals, cities and
businesses with highly efficient and innovative solutions largely based
on its expertise in four key sectors: renewable energy, energy
efficiency, liquefied natural gas and digital technology. ENGIE employs
153,090 people worldwide and achieved revenues of €66.6 billion in 2016.
The Group is listed on the Paris and Brussels stock exchanges (ENGI) and
is represented in the main international indices: CAC 40, CAC 40
Governance, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100,
MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120,
Eurozone 120, Europe 120 and France 20). More information: www.engie.com/en/;
Twitter: @ENGIEGroup.
About AES in Panama
AES in Panama has 777 MW in operation, as a result of its sustained
investment in the country since 1998 in its subsidiaries AES Panama and
AES Changuinola, which reaches about $ 1.4 billion, and now, adding its
AES Colón project, with an investment of $ 1.1 billion, fulfills its
commitment to develop infrastructure solutions and energy projects more
environmentally friendly, resulting in the reduction of emissions by
about 16 million tons of CO2. More information: www.aespanama.com; Twitter:
@aespanama;
Facebook: @AES.PTY.
About AES
The AES Corporation (NYSE:AES) is a Fortune 200 global power company. We
provide affordable, sustainable energy to 17 countries through a diverse
portfolio of distribution businesses as well as thermal and renewable
generation facilities. Our workforce of 19,000 people is committed to
operational excellence and meeting the world’s changing power needs.
AES’ 2016 revenues were $14 billion, and we own and manage $36 billion
in total assets. To learn more, please visit www.aes.com.
Follow AES on Twitter @TheAESCorp.
AES Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning
of the Securities Act of 1933 and of the Securities Exchange Act of
1934. Such forward-looking statements include, but are not limited to,
those related to future earnings, growth and financial and operating
performance. Forward-looking statements are not intended to be a
guarantee of future results, but instead constitute AES’ current
expectations based on reasonable assumptions. Forecasted financial
information is based on certain material assumptions. These assumptions
include, but are not limited to, our accurate projections of future
interest rates, commodity price and foreign currency pricing, continued
normal levels of operating performance and electricity volume at our
distribution companies and operational performance at our generation
businesses consistent with historical levels, as well as achievements of
planned productivity improvements and incremental growth investments at
normalized investment levels and rates of return consistent with prior
experience.
Actual results could differ materially from those projected in our
forward-looking statements due to risks, uncertainties and other
factors. Important factors that could affect actual results are
discussed in AES’ filings with the Securities and Exchange Commission
(the “SEC”), including, but not limited to, the risks discussed under
Item 1A “Risk Factors” and Item 7: Management’s Discussion & Analysis in
AES’ 2016 Annual Report on Form 10-K and in subsequent reports filed
with the SEC. Readers are encouraged to read AES’ filings to learn more
about the risk factors associated with AES’ business. AES undertakes no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Any Stockholder who desires a copy of the Company’s 2016 Annual Report
on Form 10-K dated on or about February 27, 2017 with the SEC may obtain
a copy (excluding Exhibits) without charge by addressing a request to
the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson
Boulevard, Arlington, Virginia 22203. Exhibits also may be requested,
but a charge equal to the reproduction cost thereof will be made. A copy
of the Form 10-K may be obtained by visiting the Company’s website at www.aes.com.
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