Sustained growth of the economies of both countries is the starting point of a growing interest from entrepreneurs and investors.
In addition, several other factors foster Panama’s chances of attracting Russian investors, including the presence of more than 3 thousand Panamanians who studied in Russia and speak the language.
Panama is increasingly getting more tourists from Russia, while expressions of interest for investment in the Central American country are growing, especially in real estate.
Infinity Energy Resources Company, Inc. received government approval to explore 1.4 million acres of the Caribbean Sea coast.
The CEO of Infinity Energy Resources, Stanton E. Ross, manifested in the company’s press release: "The final approval of contracts for exploration [of natural gas and oil] and development by the Ministry of Energy and Mines and the Government of Nicaragua will allow the company to proceed with exploration activities."
Financing for the Meso-American project will be provided by the IDB (Interamerican Develpment Bank), the BCIE (Central American Bank for Economic Integration) and the private companies that win the bids.
The Meso-American Energy Integration Program (PIEM) by the Economic Commission for Latin America and the Caribbean (CEPAL) has been working on the feasibility of a regional gas pipeline from Mexico through Central America to Colombia.
Guatemala offered the possibility to explore (and to extract) six areas in the country for hydrocarbons (three for gas and three for petroleum).
Officials from the National Competitiveness Program presented to Ecopetrol the potential for extracting hydrocarbons from these six areas.
The first three regions are located in the Pacific Ocean and cover 1.4 million hectares where the MEM believes methane hydrate can be found.
Guatemala is about to embark on a road that could end up giving it a new energy source, cheaper and "cleaner": natural gas.
Forty-five days from now it will call for bids to explore three areas in the Pacific Basin with a combined area of one million 406 thousand 674 hectares.
The Ministry of Energy and Mines is betting that natural gas and oil will be found in these areas.