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Page added on April 26, 2013

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US would generally benefit from LNG exports, House panel told

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Authorizing more liquefied natural gas exports potentially could increase domestic gas prices, but the US would benefit overall, witnesses told a US House Foreign Affairs Committee subcommittee.

“The shale gas boom can continue to strengthen the US economy, cut carbon emissions, and bolster US national security if Congress and the administration make the right decisions,” Michael A. Levi, director of the energy security and climate change program at the Council on Foreign Relations, told the committee’s Terrorism, Non-Proliferation, and Trade Subcommittee on Apr. 25.

“Allowing growth in LNG exports as part of a broad strategy aimed at capturing the opportunities created by abundant shale gas while protecting against accompanying risks would be a wise step forward,” he said in a prepared statement.

LNG exports could raise depressed gas prices and stimulate more drilling and development, noted Rob Bryngelson, chief executive of Excelerate Energy LP of The Woodlands, Tex., which is preparing to export LNG from a floating liquefaction storage unit on the Texas Gulf Coast to countries having a free trade agreement with the US.

This would encourage investment and stabilize the US gas industry by increasing the size and diversity of demand; create opportunities for rapid, voluntary supply diversions if domestic demand changes rapidly; and move production to a flatter part of the supply curve, making price changes smaller and available supplies larger, Bryngelson said.

David L. Millino, legislative department director at the Laborers’ International Union of North America, said that more LIUNA members would get jobs building pipelines from new US gas field developments.

“American workers need access to the good paying, family sustaining jobs that growth in the oil and natural gas sector provide,” he maintained. “In addition to drilling operations to recover gas, there is an extensive pipeline-compressor station infrastructure required

to move gas to facilities for processing or export.”

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One Comment on "US would generally benefit from LNG exports, House panel told"

  1. BillT on Sat, 27th Apr 2013 1:15 am 

    Petroporn…

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