Panama Canal offers LNG opportunities
When the Panama Canal expansion is completed, an estimated 80 percent of the world’s liquefied natural gas shipping fleet will be able to pass through it, according to Oil & Energy Insider.
The figure means good news for U.S. LNG firms looking to move their product to Asia, the report added.
According to the Panama Canal Authority, travel times from the U.S. Gulf Coast to East Asia could be cut from 63.6 days down to 43.4 days, reducing costs by 24 percent.
Source: Environmental Leader