LNG

AES Corp. of the US whose businesses include electricity supplies and stakes in liquefied natural gas and power in the Dominican Republic and Panama, has been able to narrow its net losses amid changing markets and as its swallows the high cost of moving to renewables.

Panama is expected to become the newest LNG importer as the country prepares to take its first LNG shipment at the Costa Norte regasification facility at the port of Colon, near the entrance to the Panama Canal on the Atlantic Ocean.

Feb 6 (LNGJ) - AES Corp., the US company that brought LNG to the Caribbean with its AES Andres import terminal in the Dominican Republic and with a project planned in Panama, has started a corporate overhaul as part of a strategy to simplify its portfolio. “Our new structure will accelerate our transformation to an energy company of the future,” said Andrés Gluski, President and Chief Executive of the Arlington, Virginia-based company. Among its measures, AES intends to reduce operating areas to just 16 countries instead of the current 28 nations, though will stick by its LNG assets and plans.

AES Dominicana, a subsidiary of AES Corp. of the US, has signed an agreement to supply liquefied natural gas to the Barbados National Oil Company from its AES Andres LNG terminal in the Dominican Republic.