Immediate threat to S'pore partly offset in the next two years
Decline in LNG spot prices expected to lead to slow take up in shipping US gas to East Asia via expanded waterway
Singapore
THE Panama Canal Authority (ACP) took nine years to deliver the expansion project that was once touted as a game-changer to the world trade in liquefied natural gas (LNG).
It was thought when the project was conceived that the expanded canal, capable of allowing the passage of a typical 170,000 cubic metre, long-haul LNG carrier (LNGC), would result in dramatic time and cost savings when sending LNG cargoes from the US to gas-hungry Asia.
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