The conflict in Iran may increase the trade of liquefied natural gas passing through the Panama Canal.

Ricaurte Vasquez, head of the Panama Canal Authority, stated in an interview that ongoing conflicts in Iran could lead to Asian energy buyers seeking alternative sources of liquefied natural gas, thus increasing traffic through the Panama Canal. He mentioned that if the Middle East conflict persists, Asian countries may turn to U.S. LNG suppliers to replace Qatar. He also mentioned that U.S. shipping companies may take advantage of the Panama Canal to shorten routes to Asia, offsetting rising fuel costs. He said, "In the short term, the Asian market must find alternative sources to Qatar's LNG supply, depending on how long this conflict lasts. We should benefit from this, and we have the capability to do so, as we have enough waterways for ship transit." Currently, the canal handles about 34 vessels per day, with the capacity to increase to 38 to meet the additional demand from LNG transporters. He also mentioned that the canal authority will launch a $1.6 billion LNG pipeline project tender next month, which is expected to be operational by 2031.