Natural Gas and the Panama Canal

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

Thursday, April 26, 2018

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.

In relation to the current situation and what is expected, Jorge Quijano, administrator of the Panama Canal Authority, told Prensa.com that " ... 'Right now, on average, we are handling six vessels [with LNG] per week, but in the very near future there will be several plants exporting and that starts to add up'."

See also: "New opportunity for $900 million gas plant"

The article adds that " ... shipments are expected to increase in the next few years and there are several US LNG projects under construction, with a total planned US capacity of almost 70 million tons per year, compared to 18 million tons in 2017."

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More on this topic

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."

Shipping Routes Return to Panama Canal

July 2015

One of the routes is operated by Maersk Line from Asia to the US West Coast and the other by the company Hamburg Sud, going from South America to the Caribbean.

The Canal Administrator Jorge Quijano, said these two new services will generate "between $25 million to $30 million each." Vessels operating the routes are of medium size and will start going through the canal in the coming months.

New Rates for Panama Canal

April 2015

The new Panama Canal toll structure will come into effect on April 1, 2016, except for the new segment of Internal Maritime Cluster which is already in effect.

From a statement issued by the Maritime Authority of Panama:

PANAMA CITY, Panama, April 29, 2015 - The Cabinet Council of the Republic of Panama has officially approved a proposal to modify the Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors.

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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