API praises latest DOE export approval

The American Petroleum Institute (API) has lauded the Department of Energy (DOE) for approving exports of LNG from the Cove Point terminal in Maryland.

Commenting on the approval, which will enable Cove Point to export LNG to countries that do not have a free trade agreement (FTA) with the US, Erik Milito, Director of Upstream and Industry Operations, said: “America is now the world’s largest natural gas producer, and this facility will help to harness that strength to create jobs across Maryland and the broader economy.

“This is a major milestone for a multi-billion dollar project that has waited years for federal approval. This facility, and others like it, will allow America to be a net natural gas exporter by 2017, according to EIA. US exports will help to bring energy security to our allies, while supporting jobs and economic growth in American manufacturing, construction, energy development, engineering, and other areas.

“Unfortunately, dozens of other facilities still require permits. With faster approval, we could bring those jobs online even sooner and add billions in economic activity to communities around the country. We applaud the DOE for allowing Cove Point past the finish line, and we urge the administration to continue working with leaders in Congress who are ready to streamline this process and open the doors to free trade.”

According to a study by ICF International, Maryland could witness up to US$1.6 billion in state income growth by 2035 from exporting LNG.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/08052015/api-welcomes-maryland-approval-715/