The Panama Refinery & Petrochemical Park will be developed as a world-class Energy Hub with a comprehensive range of refineries, petrochemical plants, storage terminals, marine and support facilities that provide synergy between each other to facilitate upstream and downstream production and distribution. The MasterPlan for the Panama Refinery & Petrochemical Park consists of a 50 sqkm development in the Atlantic and an approximate 100ha in the Pacific. The Atlantic Development consists of 2 million bpd refineries, 3 mtpa petrochemicals, LNG receiving terminal & approximately 60 million barrels of terminal storage & marine jetties facilities. The park is designed similarly to Jurong Island concepts with common utilities & pipeline sharing. The Pacific consists only of terminals & offshore marine jetties with submarine pipelines. The 2 facilities shall be linked via 90km transithmus pipelines, making the entire development an integrated energy hub of the Americas. The Project was officially launched globally on 20th November 2007.