Expanding markets for America's abundant natural gas will create jobs, strengthen the US economy, and position the country as a leader in the global energy market, the panel of local and state officials learned.
Led by Senate Energy Committee Chairwoman Mary Landrieu, Our Energy Moment members and local elected officials examined the important role expanded LNG exports will play in local and national economic development during a panel discussion on 22 August at the Port of Lake Charles.
Expanded LNG markets
Landrieu commented: "Expanded markets for LNG represent an incredible opportunity for the US to create jobs and spur economic growth. Our plentiful natural gas reserves are a game-changer for our economic and energy security, and a clear economic win for Louisianians and all of America. We must seize the opportunity to grow this industry through responsible expanded exports and not let it slip through our grasp."
It is estimated that LNG exports will generate as much as US$ 86 billion in net benefits to the US economy and help create up to 2.4 million American jobs by 2035 supported by natural gas. Louisiana is projected to receive up to US$ 16.2 billion in economic benefits from LNG exports.
Recently, Sempra Energy's Cameron LNG export project in Hackberry, Louisiana, received final approval from the Federal Energy Regulatory Commission (FERC). FERC's approval of Cameron LNG follows important regulatory milestones for other LNG projects, including the issuance of a final environmental impact statement (EIS) for Freeport LNG's project and a draft EIS for Cheniere Energy's Corpus Christi project.
Participants in the panel included Cameron Parish Administrator Ryan Bourriaque and OEM members David Conner of the SWLA Economic Development Alliance, Jason French of Cheniere Energy Inc., and Mark Nelson of Sempra Energy.
"Chairwoman Landrieu has a clear vision for the tremendous potential that expanded LNG exports hold for Louisiana's economy and our nation as a whole, and we appreciate her leadership as we continue this important conversation about how we best work together to make the most of this historic opportunity before us today," said Jason French, a spokesman for Our Energy Moment.
In June, the US House of Representatives passed H.R. 6, the Domestic Prosperity and Global Freedom Act, which will expedite the Department of Energy's (DOE) review process of applications to export LNG to non-Free Trade Agreement countries. Authored by Rep. Cory Gardner, the legislation requires the DOE to issue a decision within 30 days of the close of environmental review under the National Environmental Protection Act for completed applications.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27082014/panel-highlights-benefits-of-expanded-lng-markets-in-us-1288/