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US interested in Portuguese port expansion

According to Reuters, US Energy Secretary Dan Brouillette has said that US companies are interested in expanding Portugal’s deepwater port of Sines, due to its strategic position to receive US LNG exports.

Portugal reportedly launched an international tender in October last year for a contract to construct and operate a new container terminal in Sines. The port of Sines is continental Europe’s closest port to the Panama Canal, and it is expected that Portugal will select a winner of the contract in 4Q20.

According to Reuters, Singapore’s PSA, which currently operates the only existing container terminal at the port, is also simultaneously increasing its capacity.

The planned overall expansion will be key to allowing the port to receive larger vessels and more LNG cargoes from overseas.

During a visit to Sines, Brouillette said: “It is a very unique and strategic point for us and a very good part of the economics of natural gas.

“We are excited to see the development here… and we look forward to working with Portugal and the industry here for this upcoming tender offer.

“I think you’ll see much US interest in this port. We’ll wait and see, as the tender closes, to see which companies may be on this. The fact they are here today looking at this, I think it indicates a very strong American interest in this port.”

The US is not without competition however, as Chinese companies have also reportedly expressed interest in expanding in the port.

Read the article online at: https://www.lngindustry.com/lng-shipping/13022020/us-interested-in-portuguese-port-expansion/



 

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