With the expansion of the Panama Canal earlier this year, Gasmar managed to shorten the delivery time and reduce the prices of imported liquefied natural gas (LPG) intended for Chilean businesses and homes.
Gasmar, an importer and wholesale distributor of LPG established in 1992, took its first delivery of LPG from the Texas city of Houston in the U.S. around two weeks earlier than previous orders.
“The logistics advantage brought about by the Panama Canal expansion allowed Gasmar to pass on savings to consumers. And we’ve had conversations with the Japanese mainly on the logistics side. Japanese companies have strong positions in the U.S., especially in Houston,” explained CEO Jaime Ugarte.
As demand for energy in Chile grows, Gasmar expects LPG imports to also spike and is improving its supply chain to provide a stable and reliable supply of this essential product.
Additionally, the company is looking to expand beyond the local market and diversify its products.
“We have to grow and expand in other markets. The question is where. It’s in the area of expansion where I think we and the Japanese can realize mutual gains,” Ugarte said.
At present, Gasmar owns and operates five LPG storage tanks with a total capacity of 145,000 cubic meters in Quintero, 165 km north of the capital Santiago.