Recent unrest in Ukraine has resulted in renewed calls for the US Department of Energy (DOE) to quickly approve delayed exports of US liquefied natural gas (LNG). The American Petroleum Institute’s (API) Director of Upstream and Industry Operations, Erik Milito, has reiterated that US LNG exports would serve as a valuable option for US allies in Europe and around the world.
“Our allies in Europe are eager for a reliable partner to enter the marketplace as a stable, secure source of natural gas, and American industry is ready to make that happen,” said Milito. “Thanks to the US energy revolution, America is now the world’s leading producer of natural gas, which means that our LNG exports could significantly strengthen the global energy market against crisis and manipulation. That’s a win-win for our economy and for our friends.
“Unfortunately, the slow pace of federal approval for US LNG export facilities has stalled the construction of infrastructure, weakening our competitive position. Accelerating that regulatory process would not only reduce our trade deficit and create jobs here in the US, it would bolster the geopolitical power of the US and provide security to our allies.”
A recent report from ICF International explains that the economic benefits of LNG exports will extend far beyond natural gas-producing states, driving national job growth and increasing demand for US steel, cement, equipment and other goods.
Adapted from press release by Callum O'Reilly