FMC Commissioner Gives Keynote on Panama Canal

MarineLink.com
Friday, September 20, 2013
Commissioner Doyle: Photo in public domain

Commissioner William P. Doyle of the Federal Maritime Commission, has given the keynote address at the Eno Center for Transportation Forum on the Panama Canal entitled: Lessons Learned and Implications for World Commerce.  His comments on the future of the canal's LNG trade are also extracted below.

Commissioner Doyle noted that the Obama Administration, members of Congress and state and local officials support the tremendous economic, business, job-supporting, energy and transportation related opportunities the expanded Canal will bring to the United States.

The Commissioner also addressed:  The Administration’s efforts to expedite regulatory reviews of infrastructure projects, the Panama and Suez trade routes, recent progress on discussions for slot and transit fees associated with the expanded Canal, and LNG export potential through the Canal.  

Extract from the speech: LNG Exports — Preparing for the Expanded Canal
"I would like to provide an example of a new type of U.S. manufactured export product that could really benefit from the expansion of the Panama Canal.

Not long ago the United States was positioning itself to be the world’s largest importer of natural gas. In 2006 there were approximately 50 proposed liquefied natural gas (LNG) import projects in some stage of regulatory review. 20 The U.S. was on the verge of becoming ever more reliant on the Middle East for its natural gas.

That all changed in 2008 when the independent natural gas producers in the U.S. proved that abundant amounts of natural gas could be extracted and produced from shale basins in places like the Pennsylvania, Ohio and West Virginia. Indeed, these producers perfected the technique known as horizontal multistage hydraulic fracturing.

Today, the U.S. has not only slashed its imports of natural gas from overseas, but we are on the verge of becoming a major competitor on the supply-side of natural gas through our LNG exports.

The world’s largest market for liquefied natural gas is Asia. As it stands now, South Korea and Japan are the largest importers of LNG. In the coming years, China may be added to that list.

With the Dominion Cove Point decision issued by the Department of Energy last Wednesday, the Obama administration has now authorized 6.37 billion cubic feet of liquefied natural gas to be sold overseas. 24 Dominion, located in Maryland, is the first East Coast export project that has been approved and it is the closest terminal to Appalachia’s Marcellus and Utica shale formations.

Previously, the Energy Department approved conditional export licenses to three Gulf Coast terminals: Lake Charles, Louisiana project, as well as the Freeport LNG project on Quintana Island, Texas, and, in 2011, Houston-based Cheniere Energy’s Sabine Pass facility in southwest Louisiana.

How do we get the domestically produced natural gas into the export market?

Once the expanded Panama Canal opens, the distance to ship U.S. natural gas from the Gulf Coast of the United States to Asia will decrease by 9,000 miles. 25 Only 21 of the existing global fleet of 370 LNG tankers can currently fit through the Panama Canal. 26 None use the Canal.

However, more than 80 % of the tankers will be able to make the passage through the Canal once the widening is complete (Platou Consultants). 27 The U.S. will be competing with Australia, Russia, East Africa and the Middle East as a natural gas supplier for Asia. The development of U.S. natural gas resources, together with the Panama Canal Expansion, will have a transformative impact on the U.S. energy and transportation landscape, helping to improve our energy security while spurring economic development and job creation around the country."

The full speech is available at:
http://www.fmc.gov/commissioner_doyles_keynote_address_to_the_eno_center_for_transportations_forum_on_the_panama_canal/
 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Commandant to Address PVA Convention

Commandant of the U.S. Coast Guard Admiral Paul F. Zukunft will attend the PVA Annual Convention at MariTrends 2015 in Long Beach, Calif. and deliver a keynote

Liebherr Expects Turnover Dip

For the 2014 business year, the Liebherr Group is currently anticipating an overall turnover of 8,866 million euros (2013: 8,964 million euros). In the area of construction machines and mining,

Rig Moves: Mobilized for Performance

The operation of an oil field involves moving rigs or jackups in a maneuver referred to as a rig move. These complex operations require experience and the coordination of all stakeholders.

Tanker Trends

INTERTANKO Launches ECA Bunker Surcharge Clauses

INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA).   Rising bunker prices due to rising oil

DSME Returns for More Dual-Fuel Engines

MAN Diesel & Turbo received an order for four MAN B&W 5G70ME-GI engines in connection with Daewoo Shipbuilding & Marine Engineering Co.,Ltd. (DSME) agreeing a deal

USCG Addresses Future of Marine Fuels

The future of marine fuels from the Liquefied Gas Carrier National Center of Expertise   The Pacific Merchant Shipping Association hosted The Future of Marine

LNG

Becker Marine Delivers Rudder for Largest Containership

Becker Marine Systems delivers rudder for the largest container ship in the world   At 19,000 TEU, the largest container ship in the world is now picking up speed

DSME Returns for More Dual-Fuel Engines

MAN Diesel & Turbo received an order for four MAN B&W 5G70ME-GI engines in connection with Daewoo Shipbuilding & Marine Engineering Co.,Ltd. (DSME) agreeing a deal

USCG Addresses Future of Marine Fuels

The future of marine fuels from the Liquefied Gas Carrier National Center of Expertise   The Pacific Merchant Shipping Association hosted The Future of Marine

Government Update

ICS Alters Position on Ballast Water Convention

The global trade association for merchant shipowners, the International Chamber of Shipping (ICS), has modified its stance towards the ratification by governments

Sri Lanka Opposition Vows to Scrap China Port Deal if Wins Election

A leader of Sri Lanka's opposition said he would scrap a $1.5 billion deal with China Communications Construction Co Ltd to build a port city if the challenger

Philippines to Buy Naval Assets, China Sea Dispute Simmers

The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent

Logistics

Rig Moves: Mobilized for Performance

The operation of an oil field involves moving rigs or jackups in a maneuver referred to as a rig move. These complex operations require experience and the coordination of all stakeholders.

Liberia is the Flag of Choice for Greek Operators

Liberia has become the flag of choice for Greek ship owners and operators, securing the leading position for the first time in more than forty years since the early seventies.

Philippines to Buy Naval Assets, China Sea Dispute Simmers

The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2397 sec (4 req/sec)