The Panama Canal Authority (ACP) has recently been awarded a grant from the US Trade and Development Agency (USTDA) to support a feasibility study regarding the planning of a potential LNG import terminal.
Developing LNG-related infrastructure projects
The Panama canal expansion project is set to be completed next year. When the development is finished, the canal should be able to handle significant LNG tanker traffic. In order to capitalise on this growth, the ACP is interested in developing LNG-related infrastructure projects, including an import terminal.
The feasibility study, funded by the USTDA, will help the ACP set strategic priorities and plan projects related to LNG infrastructure and natural gas utilisation at the Panama Canal. The LNG terminal is anticipated to support the implementation of maritime and energy related projects, which will accommodate increased shipping traffic through the expanded canal.
“The US government is very pleased to partner with the Panama Canal Authority through this USTDA grant as the ACP looks to develop a LNG import terminal in the coming years to take advantage of the canal expansion project,” said Chargé d’Affaires, Kevin M. O’Reilly, who signed the grant agreement along with ACP Administrator/CEO Jorge L. Quijano.
"As we near the completion of the Panama canal expansion, we are eager to explore new segments such as LNG, which are now possible given our enhanced capacity to accommodate longer and wider ships. This grant by the USTDA will build on plans and projects related to LNG that are already ongoing and will present us with the ability to evaluate additional market opportunities and client services for the benefit of the US-Panama energy trade," added Quijano.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/regasification/29062015/ustda-supports-study-from-panama-canal-authority/