Panama Canal expansion to provide premium price boost for new US LNG export plants
The Panama Canal's expansion at a cost of more than $5 billion is set to have a dramatic impact on world trade patterns, in particular the LNG industry, and the project has already contributed to a surge in Asian participation in US LNG export ventures.
The expansion will allow 80 percent of the almost 400 vessels in the global LNG carrier fleet to deliver LNG from new US export plants being constructed or planned along the Gulf coast of Louisiana and Texas, as well as Georgia and Maryland, to the premium LNG markets of Asia.
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