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U.S. gas via Panama frightens LNG exporters

Friday, September 6, 2013

The United States is set to grab the first and biggest chunk of unfilled extra Asian demand for shipped gas between now and 2025 with help from a widened Panama Canal and prices that rivals could struggle to match.

Now, the distance to ship U.S. gas from the Gulf of Mexico to Asia is set to be fall to about 9,000 miles from 16,000 after expansion work makes the Panama Canal big enough for tankers.

That will allow U.S. exporters to compete for that same Asian market, transforming the United States from export destination to growth supplier for Japan, South Korea and eastern China in only a few years.

Source: Reuters