Representatives from Louisiana’s Terrebonne Parish Economic Development Authority and the Port of Terrebonne have determined that liquefied natural gas will offer a “huge opportunity” for exportation for regional Gulf Coast ports following the widening of the Panama Canal, according to Steve Vassallo, TEDA’s CEO.
The representatives recently took a trip to Panama to determine how Terrebonne Parish and surrounding regions, including the Port of Terrebonne and Port Fourchon, might benefit from the increased shipping that will result from the Panama Canal expansion.
David Rabalais, executive director of the Port of Terrebonne, accompanied the TEDA delegation to Panama and will be in charge of investigating LNG exportation and other port-related opportunities.
“The first step is to identify potential investors to promote opportunities in Panama, especially LNG,” Rabalais said in a written statement. “Subsequent steps include expanding our deep-water operations and cargo trade.”