The US Trade and Development Agency awarded a grant to the Panama Canal Authority (ACP) to support the planning of a liquefied natural gas (LNG) import terminal.
When the Panama Canal expansion project is completed next year, the Canal is expected to handle significant LNG tanker traffic.
The ACP is interested in developing LNG-related infrastructure projects, including an import terminal, in order to capitalize on the expected growth.
“As we near the completion of the Panama Canal Expansion, we are eager to explore new segments such as LNG, which are now possible given our enhanced capacity to accommodate longer and wider ships.” said ACP Administrator/CEO Jorge L. Quijano.
”This grant by the USTDA will build on plans and projects related to LNG that are already ongoing and will present us with the ability to evaluate additional market opportunities and client services for the benefit of the U.S.-Panama energy trade.”
The USTDA-funded feasibility study will help the ACP set strategic priorities and plan projects related to LNG infrastructure and natural gas utilization at the Panama Canal.
The LNG terminal is anticipated to support the implementation of maritime- and energy-related projects that will accommodate increased shipping traffic through the expanded Canal.