Panama Canal Eyeing LNG Import Terminal

The U.S. Trade and Development Agency on Friday awarded a grant to the Panama Canal Authority (ACP) to assist the planning of a liquefied pure gasoline (LNG) import terminal that might assist the ACP capitalize on the expansion of LNG tanker visitors via the expanded Panama Canal.

“The U.S. 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,” stated Chargé d’Affaires Kevin M. O’Reilly, who signed the grant settlement together 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 U.S.-Panama energy trade,” stated Quijano.

The USTDA-funded feasibility examine will assist the ACP set strategic priorities and plan initiatives associated to LNG infrastructure and pure gasoline utilization on the Panama Canal. The LNG terminal is anticipated to assist the implementation of maritime- and energy-related initiatives that can accommodate elevated delivery visitors via the expanded Canal.

The expanded Panama Canal’s new locks will enable the transit of bigger ships and open up the canal to new market segments, equivalent to Liquefied Natural Gas (LNG), for the primary time.

The new locks are anticipated to open in 2016.