Despite the havoc wreaked by the pandemic in 2020, The U.S. exported 3.2 MMBPD of crude oil to nearly 80 countries. Among them, Central America’s Republic of Panama—one of the top four destinations for U.S. exports of distillate fuel, most often consumed as diesel. Panama produces no oil, gas, or coal. Electricity for the 4+ million population is generated exclusively by hydropower. The country also controls one of the world’s busiest shipping canals that connects the Atlantic Ocean to the Pacific Ocean. Reese Energy Consulting today is following the latest news from Dallas-based Energy Transfer, which has just signed a Memorandum of Understanding with Panama to study the feasibility of the proposed Trans-Panama Gateway Pipeline. The project would include construction of two terminals—one on the country’s Atlantic side and one on the Pacific side—connected by a new pipeline to receive, transport, and export LPG to global markets. Following ET’s acquisition in February of Okla. City-based Enable, CEO Kelcy Warren hinted he was looking for the next, even bigger opportunity. Looks like he’s found one.
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Energy Transfer is a Texas based company that began in 1995 as a small intrastate natural gas pipeline operator and is now one of the largest and most diversified investment grade master limited partnerships in the United States. Growing from roughly 200 miles of natural gas pipelines in 2002 to more than 86,000 miles of natural gas, natural gas liquids (NGLs), refined products, and crude oil pipelines.