A proposed liquefied natural gas (LNG) export terminal in Philadelphia is estimated to provide up to 7,000 jobs annually, with ~ $575.35 million in labor income added to the state and local economy, according to a recent report commissioned by the state’s Philadelphia LNG Taskforce.
As America’s second largest natural gas producer, Pennsylvania is home to the cleanest and most reliable source of energy available, and we have a unique opportunity to share this resource with the world by expanding our liquefied natural gas export capabilities while creating jobs and boosting state and local economies.
These benefits are made clear in the analysis.
Using the Cove Point Maryland’s LNG facility to project potential economic impacts in Pennsylvania, the analysis found that construction alone could add approximately $1.195 billion in total yearly economic output and a total of 28,249 jobs throughout a 4-year construction period.
“The potential benefits are immense. From job creation to tax revenue to advancing our energy security and reducing our carbon emissions,” said Representative Martina White, Chair of the Philadelphia LNG Taskforce at this week’s LNG Taskforce meeting.
Given the Appalachian Basin is America’s largest natural gas producing region, it is imperative that we not only utilize this resource in America, but we invest in new opportunities to share this affordable and reliable fuel with allies across the globe.
Consider that during one of the task force’s hearings, Toby Rice, CEO of EQT and a member of the Task Force, shared , “Air pollution kills over 3.2 million people around the world…People that are using wood and manure to cook their meals. Natural gas [via LNG] would replace that.”
Building a LNG export terminal in southeastern Pennsylvania, with ready access to the Delaware River, will further enhance the utilization of U.S. natural gas in foreign markets, increasing access to a clean, reliable energy source and assisting in decreased reliance on foreign dictators that don’t adhere to the same rigorous environmental or worker safety standards as Pennsylvania.
With U.S. natural gas widely recognized as the cleanest in the world, exporting more of this product will trigger tremendous emission reductions across the globe.
“Boosting American LNG exports – of which a Philadelphia port makes entirely possible – has the potential to reduce these harmful emissions at a rate equivalent to electrifying every car in the country, installing solar on every home and doubling our wind capacity, combined,” Senator Gene Yaw, Chair of the Pennsylvania Senate Energy & Environmental Resources Committee recently noted.
Expanding the world’s access to abundant and clean Pennsylvania natural gas is “good for the economy, good for the environment, and it’s good for our national security,” Marcellus Shale Coalition President Dave Callahan testified during a May Taskforce hearing.
By investing in and building a LNG export terminal in Pennsylvania, the Commonwealth would be creating a unique opportunity to see both regional and statewide economic growth and further our role as a leader in energy production. Such production is critical to advancing our national security, raising billions of people out of energy poverty, and continuing to make significant environmental progress through reduced emissions.
