Trans-Panama pipeline

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Trans-Panama pipeline
Location
Country Panama
General direction west-east
From Chiriqui Grande, Bocas del Toro
To Charco Azul
General information
Type oil
Operator Petroterminal de Panama S.A.
Commissioned 1982
Technical information
Length 130 km (Bad rounding hereScript error mi)
Maximum discharge 860 thousand barrels per day (137×10^3 m3/d)

The Trans-Panama Pipeline is an oil pipeline across Panama near the Costa Rican border from the port of Chiriqui Grande, Bocas del Toro on the Caribbean coast to the port of Charco Azul on the Pacific coast.

History

The Trans-Panama Pipeline was opened in 1982 as an alternative to carry crude oil from the Pacific to the Atlantic Ocean.[1] Between 1982 and 1996 the pipeline transported 2.7 billion barrels of Alaskan oil to the U.S. Gulf Coast ports. After declining Alaskan oil shipments, the pipeline was closed in 1996. In November 2003, the Trans-Panama pipeline was re-opened for transportation of Ecuadorian crude oil to U.S. Gulf ports.[2]

In 2005, Venezuela began talks about reverse using the pipeline for its oil exports to China.[3] In May 2008, BP signed an agreement with Petroterminal de Panama S.A., according to which the pipeline was modernized and reversed to ship BP's Angolan and other crude oil to the U.S. West Coast refineries. BP acquired 5 million barrels (790×10^3 m3) of storage capacities and committed to secure shipments of 65 thousand barrels per day (10.3×10^3 m3/d).[1] On 28 August 2009, Tesoro oil company started reverse oil shipments through the pipeline to supply the Atlantic Basin oil to the Pacific Rim refineries.[4]

On 15 October 2009, Petroterminal de Panama S.A. signed a contract with Chicago Bridge & Iron Company to design and contsruct the second-phase expansion of terminal storage facilities.[5]

Technical features

The pipeline is 130-kilometre (81 mi) long and it has a capacity of 860 thousand barrels per day (137×10^3 m3/d).[2]

Operator

The pipeline is owned and operated by Petroterminal de Panama S.A., a joint venture of the Government of Panama and the NIC Holding Corporation located in the town of Melville, on Long Island (NY).[1][3] The Government of Panama, currently owning 40% of the company, plans to acquire rest of shares in the company.[6]

See also

References

  1. ↑ 1.0 1.1 1.2 "BP Finds Shortcut To US West Coast Refineries". Downstream Today. 2008-05-28. http://www.downstreamtoday.com/news/article.aspx?a_id=11040. Retrieved 2008-05-31.
  2. ↑ 2.0 2.1 Gordon Fellers (June 2004). "Where are the world's oil transit chokepoints?". Pipeline & Gas Journal. http://findarticles.com/p/articles/mi_m3251/is_6_231/ai_n25092295/pg_2. Retrieved 2008-05-31.
  3. ↑ 3.0 3.1 "Central America Energy Data, Statistics and Analysis - Oil". Energy Information Administration. November 2007. http://www.eia.doe.gov/emeu/cabs/Central_America/Oil.html. Retrieved 2008-05-31.
  4. ↑ Script error
  5. ↑ Script error
  6. ↑ "Republica de Panama acquires Petroterminal de Panama SA (pending)". Thomson Financial Mergers & Acquisitions. 2008-04-22. http://www.alacrastore.com/storecontent/Thomson_M&A/Republica_de_Panama_acquires_Petroterminal_de_Panama_SA-1972598040. Retrieved 2008-05-31.


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