Panama Canal docks to Eagle Ford companies' business boomPanama Canal docks to Eagle Ford companies' business boomhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=137362016-07-05T05:00:00Z2016-07-05T19:00:00Z

​​SAN ANTONIO - Oil and natural gas companies operating just south of San Antonio are looking at opportunities to reach newer and more profitable markets following improvements and the expansion of the Panama Canal.​​ 

Among those expected to benefit are companies that export refined products, crude oil and liquefied natural gas (LNG). 

Now capable of accommodating wider and longer ships with a draft of up to 50 feet, the U.S. Energy Information Administration reported that the newly expanded canal will be able to accommodate 90 percent of the world's existing LNG tankers reducing travel time and costs.

The Texas Gulf Coast is meanwhile in the middle of an LNG building boom where companies plan to take natural gas extracted from the Eagle Ford Shale, liquefy it and ship it to Asia, where natural gas prices are higher.

The Port of Brownsville is the closest U.S. port to the Panama Canal and is strategically located to export clean, abundant Texas natural gas throughout the world, said Langtry Meyer CEO of Cheniere Energy. 

Texas ports will need to deepen their channels to accommodate "Panamax" tankers, which require a depth of at least 50 feet.

Houston, Corpus Christi, Texas City, Freeport and Galveston currently have ports with a depth of 45 feet, missing the mark by five feet, while the port of Brownsville is at 42 feet. 

Almost all of the ports in Texas are seeking federal approval and funding to deepen their channels, but it's not something that can be accomplished overnight.​ 

San Antonio Business Journal
San Antonio-New Braunfels
Infrastructure & Transportation
http://www.bizjournals.com/sanantonio/blog/eagle-ford-shale-insight/2016/06/new-opportunities-from-panama-canal-expansion.htmlRead more at the {Source}

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