Panama Canal Expansion to Accommodate 90% of Global LNG Fleet by 2015
A current expansion of the Panama Canal could allow close to 90% of the world’s LNG vessel fleet to pass through by 2015, providing significant potential time and cost savings to LNG buyers and producers, a Panama Canal Authority executive said Wednesday.
Currently the canal, which links the Pacific and Atlantic oceans, can accommodate only 8.6% of the world’s existing LNG fleet, and about a quarter of the current orderbook for vessels on order. This will rise to 88% of the global fleet by 2015 and close to 100% of the orderbook by then, according to Silvia Marucci, Senior Specialist for the liquid bulk segment at the Panama Canal Authority, in a presentation to the Gas Asia Summit as part of Singapore International Energy Week.
“Currently the vessels that can be accommodated are only some small, regional ones,” Marucci said on the sidelines of the conference.
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