Panama Canal Administrator Jorge L. Quijano has remarked upon the recent progress of the Canal’s expansion programme, highlighting the new possibilities for LNG trade.
Speaking at the Sea Asia conference in Singapore, Quijano underscored the need to accommodate the increasing traffic of LNG carriers and the opportunity the Canal’s expanded lane will offer vessel operators.
Quijano said: "With the development of LNG export infrastructure in the United States, coupled with the Panama Canal Expansion opening its locks for LNG transit, the Asian supply matrix will change.”
He also highlighted the broader global shipping trends impacting Asia, and emphasised the increasingly strategic value the Canal holds for trade between Asia and the Americas.
"The route from the Gulf of Mexico to Asian countries through the expanded Canal will be around 22 days, saving around 22.8 days in roundtrip. Making US gas deliveries to major Asian importers very competitive," Quijano added.
The Panama Pavilion.
The Panama Pavilion was awarded Best Country Pavilion Award at Sea Asia 2015. "We are honored to receive the Best Country Pavilion Award at an event so meaningful to the global shipping industry," said Quijano.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/lng-shipping/27042015/panama-canal-expanded-opportunities-647/