US LNG can reduce Russian monopoly
US Representative Fred Upton has said that supplying more US natural gas to the international market will reduce Russia’s influence in Eastern Europe.
Upton, who is chairman of the Natural Resources Committee, described the natural gas sector as the ‘bright spot’ in America’s economy. This advantage now needs to be used for international gain, through increased exports of liquefied natural gas (LNG).
US LNG exports
"Expanding US LNG exports is an opportunity to combat Russian influence and power, and we have an energy diplomacy responsibility to act quickly," Upton explained.
European consumers get approximately 20% of their natural gas from Russia, most of which is transported through a pipeline network in Ukraine.
Russia's recent decision to send troops into the Ukrainian peninsula of Crimea has lead to uncertainty over Russian supply of natural gas to Europe, nearly 50% of which is piped through Ukraine.
Affordable energy
Upton added: "We will continue to advance legislation and develop new proposals that allow market forces and technology to help expand Eastern Europe's access to affordable energy beyond Russia.”
The US government has to determine if LNG exports to non-FTA (free trade agreement) countries are in the public interest before consenting to export licenses.
US Energy Secretary Ernest Moniz expressed support for LNG exports when he was elected to office in May last year.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04032014/us_lng_can_reduce_russian_monopoly_242/
You might also like
EIA: US natural gas trade will continue to grow with the start-up of new LNG export projects
The U.S. Energy Information Administration’s recently released Short-Term Energy Outlook forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.
