Panama Canal set to increase LNG capacity by five times by 2020
The Panama Canal is set to transport five times as much liquefied natural gas (LNG) by 2020, against a 2017 baseline.
Last year, the canal carried 6mn tonnes of the fuel, with the number expected to reach 30mn in two years.
The prediction, set by the Panama Canal Authority which informed Reuters, is in accordance with the rise of production of LNG in the country.
LNG demand has grown along with fuel supply – notable from shale fields in the US and offshore reserves in Australia.
Countries like China have also been using the fuel as an alternative to coal, due to environmental and polluting reasons.
In the coming years, the US’ LNG capacity is expected to reach 70mn tonnes following current projects under construction becoming operational.
In 2017, the nation recorded the fuel’s capacity as 18mn tonnes a year.
The country currently has one export facility, located at Sabine Pass in Louisiana, in which exports travel down the Panama Canal to North Asia and Latin America.
“Right now on average, we're running six (LNG) vessels per week, but in the very near future, you will have several plants exporting and that starts to add up,” Jorge Quijano, Leader of the Panama Canal Authority, told Reuters.
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."