The Panama Canal is working to avoid disruptions to operations on the interoceanic waterway due to environmental and climatic conditions, according to the administrator of the water passage, Ricaurte Vásquez.
Vásquez participated in an informal chat at the Houston International Maritime Conference (HIMC), where he spoke about the strategic development of a gas pipeline and the construction of two ports at both ends of the canal. Through these projects, the Panama Canal seeks to strengthen its capacity to provide an efficient and reliable service to its users, while mitigating risks derived from climate change and global uncertainty.
“We are working hard to ensure that environmental and climatic conditions do not disrupt operations. But, through these projects, we are also ensuring that the Panama Canal maintains its commitment to diversification, through investments that provide operational security to the industry,” said the administrator.
Vásquez highlighted the growing market demand that is driving the canal’s gas infrastructure initiatives. The Canal has projected that Liquefied Petroleum Gas (LPG) volumes will double in the next ten years. “Almost everything that comes from the United States destined for Asia passes through the Panama Canal…If we do nothing, we will lose that part of the market. Our long-term vision for the canal includes capturing that growing volume.”
The person in charge of the interoceanic passage also referred to the planned development of two new ports at each end of the Panama Canal. He emphasized that, in all initiatives, the Canal will welcome the participation of companies capable of bringing significant value. That value, he explained, will be defined based on what best serves Panama’s long-term interests. “Decisions are made by the Canal and the board of directors. This distinction is important, because it removes the possibility of political influences,” stated Vásquez.
In his closing words, Vásquez reiterated the Canal’s commitment to advancing these projects quickly and efficiently. “We have individual meetings with terminal operators and shipping line clients, probably during the first week of December. We are working to define the necessary terms of reference for prequalification. We are moving forward with speed,” stated the person responsible for the water route.
