A nearly daily update of energy-related news:
- With the Panama Canal’s expanded locks opening earlier this summer, the natural gas industry now has a more direct route to the Asian market. There are now more than 170 reservations for transits across the canal; the DOE expects that there could be as many as 550 tankers crossing the canal by as early as 2021. The canal was retrofitted with a third set of locks and deeper navigation channels allowing for an increased capacity to travel through the canal.
- Australia is threatening to veto the Chinese government-owned State Grid from bidding on a 99 year lease to operate Ausgrid, an Australian company which owns most of the electricity distribution assets in Sydney. Additionally, Hong Kong’s Cheung Kong Infrastructure is also under review by Australia’s foreign investment laws. This comes after allegations have been made that Chinese intelligence services have conducted “brazen” espionage in Australia according to the Australian Financial Review.