The Center for Liquefied Natural Gas (CLNG) has welcomed the US Energy Information Administration’s (EIA) report on LNG exports, which was requested by the US Department of Energy (DOE).
In a statement released on its website, CLNG said that the report demonstrates the economic benefits that increased exports of LNG will deliver for the US. However, CLNG said that a wider macro-economic analysis is required.
CLNG highlights that the EIA’s model does not take into account the wider economic benefits from increased exports, or the indirect benefits on energy intensive industries due to increased ethane and propane production. CLNG expects these points to be factored into the second chapter.
CLNG President, Bill Cooper, said: “While we must wait for the macro-economic report to be released for the complete picture, EIA’s report evidences economic benefits to the US with only modest potential consumer price increases by the year 2040.
“Further, while EIA modelled the export numbers provided by DOE, EIA noted that it stands by its projections of peak LNG exports reaching by 2030 being substantially less than the DOE inputs.
“We are confident that the updated macro-economic study will be an enhancement to the previous macro-economic study commissioned by DOE once again establishing positive economic gains for the country because of LNG exports, re-enforcing what numerous independent studies have already shown.”
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/lng-shipping/03112014/clng-welcomes-eia-lng-report-1715/