Panama's Sinolam sues AES and InterEnergy over alleged anti-competitive conduct

Sinolam filed a $4 billion lawsuit in Virginia accusing AES and InterEnergy of an unlawful campaign to monopolize Panama's LNG-to-power market; AES says the claim lacks merit and will defend itself.

Sinolam LNG Terminal S.A. and Sinolam Smarter Energy LNG Power Co. filed a lawsuit in Virginia on Jan. 7 alleging an unlawful campaign to monopolize Panama's LNG-to-power market. The complaint names U.S.-based utility AES Corp and InterEnergy Holdings and seeks $4 billion in damages. Sinolam alleges the defendants used coercive tactics, misused confidential information and improperly influenced regulators to delay permits and revoke licenses. AES said the claim lacks merit and intends to defend itself; InterEnergy did not immediately reply to requests for comment. Key facts: - Sinolam filed the complaint in Arlington County Circuit Court in Virginia seeking $4 billion in damages. - The suit alleges anti-competitive conduct intended to derail Sinolam’s planned LNG terminal and gas-fired power project in Colón, Panama. - Sinolam says it had secured permits, power purchase agreements and long-term customer commitments for the projects. - AES said the claim "lacks merit" and will defend itself; InterEnergy did not immediately respond to requests for comment. Summary: The filing alleges coercive behaviour and seeks $4 billion; AES has rejected the claim and said it will defend itself. Undetermined at this time.