The ICSID Arbitral Tribunal has ruled that the Costa Rican government did not cause damage to the company of Swiss capital, Gas Nacional Zeta, which sought damages of $75 million for disagreements over the LP gas tariff setting.
In 2013 the company of Swiss capital sued the Costa Rican government over disagreements on the tariff setting and safety requirements.
The government is working on a draft bill to regulate the distribution of energy generated from natural gas in the country.
At a time when investments in power generation projects based on natural gas in Panama and in the region are increasing, the head of the Panamanian Ministry of Energy has confirmed to Laestrella.com.pa that they are preparing the basis for a regulatory framework for the distribution of energy generated from gas.
The construction of the energy generation plant using natural gas by AES Colon will be financed with a syndicated loan from the CABEI, Banistmo, Bancolombia and other banks.
Those involved in the syndicated loan are Banistmo, Bancolombia, the Central American Economic Integration Banco General and Global Bank, reports Capital.com.pa. The plant, which will have the capacity to generate up to 381 MW of energy from natural gas, was announced in 2015 by the company AES Colon, who was awarded the contract to supply 350 MW of power.
Internal problems in the larger of the two current distributors is restricting supply in the market and has forced the government to authorize the operation of other distributors.
In light of the legal dispute faced by the main gas distributors in the country, which have stopped providing the service temporarily, the Costa Rican government has announced that they are willing to authorize the operation of other distribution companies that meet the requirements established by law.
The Mexican government is considering constructing a pipeline and eventually a refinery to supply the region.
Miguel Hakim, Mexican Secretary for Latin America and the Caribbean, said his country is considering building a refinery and natural gas pipeline which would cross the isthmus and would be an alternative option for generating power at low cost. Petroleos Mexicanos (Pemex), has $2 billion to invest.
The Salvadoran Superintendence of Competition has fined the company $75 thousand for not giving complete information and not including VAT on the unit selling price of gas cylinders.
"... TROPIGAS committed an administrative offense defined in article 38 paragraph 6 of the Competition Act, having provided in an inexact manner the information required in the process of preliminary proceedings initiated in May 2011 in the gas market," reported Elsalvador.com article.
The company is conducting feasibility studies on the import and distribution of Liquefied Petroleum Gas in El Salvador and other Central American countries.
"It would be an important element if we managed to change the energy matrix of El Salvador," said José Luis Merino, Alba Petróleos advisor, who explained that the company (funded with capital from the municipality of El Salvador and the state of Venezuela) has had conversations with natural gas producing countries.
The Swiss-owned company is suing the Costa Rican State over pricing disagreements and safety requirements.
This was confirmed by René Castro, Minister of Environment and Energy in Costa Rica. "Although it is presumed that the amount asked for is about $ 30 million, Castro said he does not know the total amount, as there are various suits by the gas canning company ...", reported Elfinancierocr.com.
The Costa Rican Petroleum Refinery company (RECOPE SA) has proposed a strategy to participate as a bulk importer and distributor of the product.
A statement from the Costa Rican Oil Refinery (RECOPE) reads:
RECOPE proposes strategy for the use of natural gas in Costa Rica
Based on the results of the study entitled, "perspective on the potential use of natural gas in Costa Rica" by the company SNC - Lavalin and ENERCHEM TEK, INC., The Costa Rican Oil Refinery company (RECOPE SA) is proposing a strategy to participate as bulk importer and distributor of this product.
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