Jan 7 (Reuters) - Panamanian energy developer Sinolam
LNG Terminal S.A. and Sinolam Smarter Energy LNG Power Co. on
Wednesday said they filed a $4 billion lawsuit in Virginia
against U.S.-based utility AES Corp ( AES ) and InterEnergy
Holdings, alleging an unlawful campaign to monopolize Panama's
LNG-to-power market.
In a complaint filed in Arlington County Circuit Court,
Sinolam accused AES and its partners of anti-competitive conduct
aimed at derailing Sinolam's planned LNG terminal and gas-fired
power project in Colón, Panama.
The suit alleges "coercive tactics," misuse of confidential
information and improper influence over regulators to delay
permits and revoke licenses.
Sinolam said it had secured permits, power purchase
agreements and long-term customer commitments for the projects,
which it positioned as part of Panama's ambitions to expand
LNG-related activity following the Panama Canal expansion.
The complaint alleges that AES ( AES ) executives, acting from the
company's Virginia headquarters, directed efforts to slow the
permitting process and push for regulatory action that would
undermine Sinolam's authorizations.
Sinolam also alleges InterEnergy misused information
obtained under a non-disclosure agreement to help form a joint
venture with AES ( AES ) that, it says, displaced Sinolam and its
prospective customers.
Sinolam is accusing the defendants of leveraging political
influence, including ties to Panama's government, which holds a
stake in AES's ( AES ) local unit AES Panama S.R.L., to secure monopoly
control over LNG imports and power generation.
AES ( AES ) said that the claim "lacks merit" and intends to defend
itself vigorously.
InterEnergy did not immediately reply to a Reuters
request for comment.