Panama Canal starts process to select firms to build, operate LPG pipeline [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
will design, build and operate a pipeline to transport liquefied petroleum gas (LPG), its authority said on Thursday, following meetings with interested companies. The project, expected to require an investment of between $4 billion and $8 billion, is part of the waterway's move to meet increased demand for services including trans-shipment and generate extra revenue, following the expansion of its area in a Supreme Court ruling last year. The 2 million-barrel-per-day pipeline alone is forecast to contribute between $1 billion and $1.2 billion to the waterway's annual income, Ricaurte Vasquez, head of the canal, told Reuters in an interview after the meetings. The pipeline project aims to move U.S. LPG bound for Asia from one side of the canal to the other. A power transmission line will be built as part of the plan. Among companies that met with canal authorities about the pipeline were Exxon Mobil, Phillips 66, Shell , Energy Transfer, Puma Energy, SK Energy, Vitol, Mitsubis
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XOM
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- 12/15/25 - Form 4
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