Panama Canal is making major play to win back lost energy trade [MSNBC.com]
ITOCHU CORP UNSP/ADR (ITOCY)
NASDAQ:AMEX Investor Relations:
itochu.co.jp/en/ir/index.html
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Source: MSNBC.com
To free up additional vessel slots for LNG, the canal is also in the process of an ambitious pipeline project, creating what is being called the Interoceanic Corridor. Instead of tankers carrying natural gas liquids, including ethane, butane and propane, through the canal, the NGLs would travel through a 76-kilometer pipeline connecting the Atlantic and Pacific ports. Two maritime terminals would be built to accommodate the tankers. Approximately 2.5 million barrels of energy products per day could be moved through the pipeline.On Thursday, canal officials met with approximately 30 corporations from Asia, the U.S., and South America interested in the natural gas terminals and pipelines, includingExxon MobilPhillips 66ShellVásquez also noted "a very good reaction from the Asian market." Itochu Corporation, Japan Bank for International Cooperation, Mitsubishi, Movement Industries, Nippon Koei, and Sumitomo were all in attendance. Tokyo is the No. 1 buyer for natural gas liquid shipment
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