official – Kallanish Energy News
The number of liquefied natural gas (LNG) tankers locking-through the Panama Canal is projected to jump 50% by September due to rising U.S. LNG exports, the head of the canals governing agency told Reuters.
After adding a third set of locks in 2016, the Panama Canal Authority expects growing global demand for LNG will boost transit through the waterway, said Jorge Quijano, head of the authority.
Demand for LNG has taken off in recent years because of abundant supplies of natural gas, especially from U.S. shale plays, and because natural gas is a cleaner burning fuel than coal or oil.
We are about to reach one (LNG tanker) per day, Quijano told Reuters.
The canal received 60 LNG tankers in the last three months of 2017, up nearly 40% from 43 tankers in the same period of 2016, Kallanish Energy calculates.
Houston-based Cheniere Energy, which owns and operates the Sabine Pass LNG export facility in western Louisiana, has been expanding exports while building a new LNG export complex near Corpus Christi, Texas, expected to come online in December.
Cheniere, which signed an agreement last month to sell trading firm Trafigura 1 million metric tonnes of LNG annually for 15 years beginning in 2019, plans to inaugurate a second liquefaction train at Corpus Ch....