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Natural Gas

Chile eyes more US LNG after expansion of Panama Canal

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Chile eyes more US LNG after expansion of Panama Canal

Houston — Since the US start commercial exports of liquefied natural gas in February, 92 Bcf of LNG, loaded on 26 vessels, have been exported to 10 different countries.

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Of the 26 vessels, Chile has received seven, making it the largest recipient of US LNG.

Chile's first five vessels from Sabine Pass traveled around the southern tip of South America through the Strait of Magellan.

These voyages lasted an average 23 days and Platts Analytics estimates that shipping costs were around 93 cents/MMBtu.

Article Continues below...

Since the newly expanded Panama Canal reopened in June, Chile has taken advantage of the shorter route to save time and money.

On August 11, Chile's Quintero regasification terminal received a Sabine-laden vessel, the Maran Gas Delphi, in a voyage that took just 13 days. Another Sabine-laden vessel, the Sestao Knutsen, arrived at Chile's Mejillones terminal in 12 days.

Platts Analytics estimates freight route costs from the US Gulf Coast through the Panama Canal are 56 cents/MMBtu.

--Chris Pedersen, chris.pedersen@spglobal.com
--Edited by Valarie Jackson, valarie.jackson@spglobal.com