PANAMA CANAL AUTHORITY AND LOUISIANA PORT SIGN COOPERATION AGREEMENT

The Panama Canal Authority (ACP) signed a cooperation agreement with the Port of Lake Charles in Louisiana in early January. The agreement aims to attract new customers from the liquefied natural gas (LNG) industry. Due to their beam dimensions LNG vessels cannot transit through the waterway which will be remedied with the expanded Panama Canal.

The agreement will promote cooperation in marketing activities information exchange market research training and technology among other initiatives that will benefit both the Canal and the Port of Lake Charles. The Port of Lake Charles is a deep water port with entry into the Gulf of Mexico and is a national leader in the petrochemical industry primarily due to the development of mineral resources such as sulfur oil products and natural gas.