The U.S. Energy Information Administration’s (www.eia.gov) new Today in Energy brief looks at how the global LNG trade will benefit from the expanded Panama Canal.
“The newly expanded Panama Canal will be able to accommodate 90% of the world’s current liquefied natural gas (LNG) tankers with LNG-carrying capacity up to 3.9 billion cubic feet (Bcf). Prior to the expansion, only 30 of the smallest LNG tankers (6% of the current global fleet) with capacities up to 0.7 Bcf could transit the canal. The expansion has significant implications for LNG trade, reducing travel time and transportation costs for LNG shipments from the U.S. Gulf Coast to key markets in Asia and providing additional access to previously regionalized LNG markets.”—EIA
graph of approximate voyage time from U.S. Gulf Coast through Panama Canal or other routes, as explained in the article text
Source: U.S. Energy Information Administration calculations based on IHS and other sources
Note: Calculations assume export from the Sabine Pass liquefaction terminal at an average LNG Carrier speed of 19.5 knots and one-day transit time through the Panama and Suez Canals
The Today in Energy brief was posted Thursday on EIA’s website at: http://www.eia.gov/todayinenergy/detail.cfm?id=26892.