ACP Promotes Megaprojects in Korea

The Panama Canal Authority is promoting the development of automotive and natural gas terminals on land bordering the new canal.

Tuesday, May 7, 2013

Jorge Quijano, ACP Administrator, met with current clients of the Canal and carmakers.

"We see that the route requires not only more traffic, but also land development," said the official, who explained that the ACP has about 900 acres available, some created with earthworks from the Canal expansion, and there are currently 8 megaprojects under evaluation.

For the car project, the ACP met with Hyundai, Tusan and Volvo, as well as a heavy equipment factory, and hopes to visit Japan in August or September to look for more interested parties in that country.

As for natural gas initiative, Quijano has met with SurKorea Gas and Surkorea Energy, according to an article in laestrella.com.pa.



More on this topic

Natural Gas and the Panama Canal

April 2018

In 2017, 6 million tons of natural gas passed through the interoceanic route, and by 2020 this figure could rise to 30 million tons.

Explained by an increase in supply in the US deposits and of reserves in Australia, the Panama Canal Authority estimates that in the next three years natural gas traffic could grow fivefold compared to the amount reported in 2017.

A Natural Gas Terminal in the Pacific

December 2017

The Panama Canal Authority is evaluating constructing a Liquefied Natural Gas supply terminal on the Pacific Coast, with an investment that could be around $100 million.

Oscar Bazán, executive vice president of Planning and Commercial Development of the Panama Canal Authority (ACP), told Elcapitalfinanciero.com that "...

The Future of Panama Expands

June 2016

The new canal enlarges the volume of ships that transit through it, as well as the opportunities for growth in a country whose economy was already booming.

EDITORIAL

As Jorge Quijano, chief executive of the Panama Canal Authority notes, the new Canal will open up new global trade routes. This is particularly true for cargo which goes through ports in the eastern United States, including those on the Gulf Coast. The opportunity is clear for the transport of liquefied natural gas (LNG), which the United States produces in abundance. According to Martin Houston, co - founder of Tellurian, developer of LNG projects, so far only 7% of tankers carrying LNG to Asia pass through the Panama Canal, a figure that will rise to 80% with the expanded Canal.  The reason is clear: "A tanker loaded with liquefied natural gas in the US Gulf Coast and destined for Asian markets could shorten its travel distance by about 5,000 nautical miles."

Panama Canal Seeks Customers in Gas Sector

January 2015

The Maritime Authority has signed an agreement with the Port of Lake Charles, Louisiana, USA, as part of the strategy to attract new customers within the logistics sector for liquefied natural gas.

From a statement issued by the Panama Canal Authority:

The Panama Canal has signed a cooperation agreement with the Port of Lake Charles, Louisiana, United States, as part of the strategy to attract new customers in the market for liquefied natural gas (LNG) taking advantage of the benefits afforded by use of the expanded Canal.

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