Thursday, July 13, 2017
U.S. Sen. Bill Cassidy (R-La.) has introduced the License Natural Gas (LNG) Now Act to remove barriers placed on U.S. exporters so they can quickly access the market and meet the global demand for natural gas. The legislation would revamp the current system put in place by the Department of Energy decades ago and establish market growth of U.S. exports without delays.
“The previous administration created hurdles that stalled LNG projects that benefit the economy, environment, and Louisiana workers,” said Cassidy. “This legislation adds certainty to the approval process and brings investment and better-paying jobs to Louisiana.”
Under the act, the U.S. would have the opportunity to supply the anticipated 4% to 5% in annual LNG global demand growth. The administration would also retain the ability to limit natural gas importation and exportation levels during emergencies, disasters, or exchanges with foreign nations. The American Petroleum Institute, the Center for Liquefied Natural Gas, G2 LNG, LNG Allies, and the Natural Gas Association have endorsed the legislation.
“The Center for Liquefied Natural Gas welcomes any measures of support or creation of opportunity for U.S. LNG,” said Charlie Riedl, the center’s executive director. “The U.S. LNG industry is in the midst of a critical opportunity that would cement the U.S. as a global energy superpower, and certainty is key.” “This legislation would streamline and focus the permitting process of exporting LNG from the United States,” added Thomas H. Hudson, CEO of G2 LNG. “It also signals to potential customers and global investors alike that the U.S. government strongly supports the development of this abundant, cleaner, greener, lower-cost natural resource. Thousands of jobs and millions of new tax revenues to local, state, and federal governments stand to be created.”
Cassidy reviews that the U.S. has been a natural gas exporter for nearly 100 years, but not until the energy revolution of the past decade has the idea that the nation could emerge as net exporter seemed plausible. In addition, the U.S. has the least expensive natural gas in the world. The Energy Information Administration estimates there is 2474 Tcf of technically recoverable natural gas, enough to last an estimated 93 years. With the growth of the U.S. LNG market, the country has the opportunity to fill forecast global demand growth. Unfortunately, several American LNG export projects have been forced to wait years. One recently waited 1642 days as export permits gathered dust at the Department of Energy.
(SOURCE: The Weekly Propane Newsletter, July 10, 2017)
“The previous administration created hurdles that stalled LNG projects that benefit the economy, environment, and Louisiana workers,” said Cassidy. “This legislation adds certainty to the approval process and brings investment and better-paying jobs to Louisiana.”
Under the act, the U.S. would have the opportunity to supply the anticipated 4% to 5% in annual LNG global demand growth. The administration would also retain the ability to limit natural gas importation and exportation levels during emergencies, disasters, or exchanges with foreign nations. The American Petroleum Institute, the Center for Liquefied Natural Gas, G2 LNG, LNG Allies, and the Natural Gas Association have endorsed the legislation.
“The Center for Liquefied Natural Gas welcomes any measures of support or creation of opportunity for U.S. LNG,” said Charlie Riedl, the center’s executive director. “The U.S. LNG industry is in the midst of a critical opportunity that would cement the U.S. as a global energy superpower, and certainty is key.” “This legislation would streamline and focus the permitting process of exporting LNG from the United States,” added Thomas H. Hudson, CEO of G2 LNG. “It also signals to potential customers and global investors alike that the U.S. government strongly supports the development of this abundant, cleaner, greener, lower-cost natural resource. Thousands of jobs and millions of new tax revenues to local, state, and federal governments stand to be created.”
Cassidy reviews that the U.S. has been a natural gas exporter for nearly 100 years, but not until the energy revolution of the past decade has the idea that the nation could emerge as net exporter seemed plausible. In addition, the U.S. has the least expensive natural gas in the world. The Energy Information Administration estimates there is 2474 Tcf of technically recoverable natural gas, enough to last an estimated 93 years. With the growth of the U.S. LNG market, the country has the opportunity to fill forecast global demand growth. Unfortunately, several American LNG export projects have been forced to wait years. One recently waited 1642 days as export permits gathered dust at the Department of Energy.
(SOURCE: The Weekly Propane Newsletter, July 10, 2017)
