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UPDATE: API comments on US LNG exports

LNG Industry,

LNG exports will boost the US economy and strengthen the energy security of America and its allies, including Ukraine, according to API Director of Upstream and Industry Operations, Erik Milito.

In a conference call, Milito commented: “For the first time in generations, the United States is an energy superpower. And the world – especially Europe and countries like Russia, China, and India – is watching closely to see if American policymakers are ready to harness that power on the international stage.

LNG export terminals

“Now is the time to build our energy infrastructure, expand exports, and lock in the economic and geopolitical opportunities that our energy revolution has created. To do that, we need continued support from policymakers in Washington to build LNG export terminals.

“Our allies know US exports will undoubtedly have an impact long before the first tanker leaves our shores, and they are eager to diversify their energy supplies with reliable, steady supplies from the United States.

Global energy market

“By accelerating exports, we can strengthen the global energy market against future disruptions and send a signal to the world that the United States is ready to lead. Our growth as a major exporter would bring competition into the market and help ease the ties that bind our allies to any single supplier.

“The US Department of Energy commissioned a study by NERA, which concluded that LNG exports would yield net economic benefits across all scenarios. The study also showed that concerns about domestic natural gas prices were unfounded.

“The only thing standing between America and a steady flow of jobs and capital are self-imposed bureaucratic restrictions.”

Adapted from press release by Katie Woodward

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