http://www.timera-energy.com/panama-canal-upgrade-impact-on-the-lng-market/
The Panama Canal is synonymous with the global shipping industry, facilitating over 14000 transits per year. But currently it is not a significant feature of the global LNG market. This is because only 21 of the 370 LNG vessels currently in service can pass through the canal. However the Panama Canal expansion project will allow over 80% of LNG vessels to pass through from late 2015 when it is due to be completed.
When the $5.25b project was approved in 2006, the consensus view was for a limited impact on global LNG trade. The key beneficiary of the expansion was expected to be the owners of Trinidad and Tobago cargoes, given canal transit significantly shortens the trip to Asia.
But the rapid development of plans to build large volumes of LNG export capacity on the US Gulf Coast means that the canal expansion project is set to have a far greater impact on the LNG market than previously envisaged. In addition, it may increase the competitiveness of lower volume existing trade routes (e.g. Trinidad to Chile) or open up new ones (Peru to Europe). Panama is also looking to start importing LNG in 2013.
At link: Comparison of shipping distances and voyage times for cargoes delivered to Japan