Today within the working session, Alexander Medvedev, Deputy Chairman of Gazprom Management Committee met with Manuel Jose Paredes, Vice Minister of Industry and Trade of the Republic of Panama.

The parties discussed opportunities for Gazprom participation in pipeline construction connecting Panama with the Central American countries as well as operating infrastructure construction.

The session’s participants envisaged cooperation potential in the oil refining sector.

Reference:

Panama as well as the Central America has no proven hydrocarbon resources. The Region meets energy needs from oil imports.

The country is a hydrocarbon net importer. Hydrocarbon share is at 25 per cent of electric power generation and hydro power industry and alternative energy sources are at 85 per cent.

Panama has a developed oil infrastructure that includes oil pipeline crossing the Isthmus of Panama from Columbia, and storage reservoirs for 16.9 million barrels of oil. At present the parties discuss opportunities for construction of oil refinery complex on the territory of Panama using crude oil as the main resource base supplied from Mexico.