BP (LON:BP) will ship the first cargo of LNG through the expanded Panama Canal.
The shipment, which is expected to take place in late July, will mark the opening of a new trade route for heating and power-plant fuel.
The $5.3billion expansion to facility will allow it to finally accommodate the giant-sized tankers needed to transport the fuel. The Panel Canal Authority said the upgraded facility will look to ferry 20 million tons of LNG – the equivalent of 300 cargo ships – through its confines each year.
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The British Merchant, which has a capacity of 138,517 cubic meters of gas, will travel to canal from Trinidad and Tobago.
“It’s what a lot of folks have been anticipating for a long time,” said Rusty Braziel, president of RBN Energy LLC in Houston.