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Perry to face questioning on natural gas

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LNG Industry,

Reuters are reporting that Rick Perry, Trump’s nominee to become the new US Secretary of Energy, will face questioning by senators on 19 January on creating jobs in the industry and bolstering US energy security.

Trump sees Perry as a person who can usher in energy jobs.

The energy committee senators will likely ask Perry at the confirmation hearing how he plans to increase exports of natural gas to countries looking to reduce their dependence on Russia, a particularly important path to growth because demand for natural gas in the US is relatively stagnate.

If confirmed, Perry could face market and regulatory forces that could enhance growth for the oil industry but put up hurdles for the natural gas industry.

The current rise in oil prices means that domestic crude output could increase under Perry, even if he takes little direct action to boost drilling. But swiftly increasing exports of natural gas, which is transported as LNG, could prove tricky. Before the Energy Department gets to approve applications for exports of LNG, the Federal Energy Regulatory Commission must greenlight lengthy environmental reviews. In addition, many LNG projects lack adequate financial backing.

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