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More Than Five Gas Tankers a Week to Traverse Wider Panama Canal

  • New route will cut costs and time to ship gas to Asian markets
  • Upgraded canal can handle bigger ships after June 26 opening
Updated on

Panama said it expects 20 million tons of liquefied natural gas to pass through its canal annually once the newly widened waterway is opened this month. That’s almost a tanker of gas a day traveling through, based on Bloomberg calculations.

“The canal opens the possibility for that gas to reach Asian markets in a more competitive way because the Panama Canal route is the shortest,” said Manuel Benitez, deputy administrator of canal authority, in an interview in Panama City on Wednesday. “We’ve already seen that many very large gas carriers have already made reservations.”