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US, Panama agree LNG deal

Aug 19, 2018
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The U.S. Treasury and Energy department has signed an MoU with Panama focusing on greater cooperation on energy and infrastructure investment.

The MoU marks the formal inauguration of the U.S. initiative called America Crece, or the Americas Grow. Treasury Under Secretary for International Affairs David Malpass led the U.S. delegation to Panama.

“This framework will expand energy security and spur economic growth for both nations. It will help catalyze private sector capital for investments across the energy value chain, including upstream energy production, as well as power generation, transmission, and distribution,” said Under Secretary Malpass.

Under the MOU, the two countries will cooperate to further diversify Panama’s sources of energy to power the country’s economic growth; to broaden Panama’s role as a liquefied natural gas hub for Central America and the Caribbean. It will also help integrate natural gas as a source of downstream energy, furthering Panama’s environmental goals and making Panama’s economy more competitive.

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