For the first time in almost 70 years, the United States has emerged as a net natural gas exporter and is on track to become the 3rd largest global exporter within the next few years, experts said during a U.S. Senate committee hearing yesterday. Expanded exports of U.S. liquefied natural gas boost America’s global standing, provide a stable and reliable energy source for our allies abroad, and help further drive clean air goals.
Click HERE to view the hearing. Here’s a quick recap of what was discussed:
Senator Joe Manchin, Ranking Member on the Senate Committee on Energy and Natural Resources
“We are now leading the world in natural gas production, and hopefully soon, we will also lead in exports. Global demand for LNG, we know, is increasing. More U.S. LNG export facilities are coming online and more of our friends and allies around the world are building import facilities. For the first time since the 1950s, we are now a net exporter of this abundant resource, and our production is driving the formation of a global spot market for natural gas. Again, the dynamic around natural gas, around LNG, is just extraordinary.”
“There’s been an exponential growth in domestic natural gas production over the past decade driven in large part by research and development from the DOE. And there’s potential for more, including opportunities in my home state of WV, which sits on top of an ocean of energy: the Marcellus, the Utica, and now we find the Rogersville shales.”
“In a time when all countries need to focus on solutions to the common threat of climate change, including the use of natural gas to lower greenhouse gas emissions, gaming the global energy economy only benefits our adversaries.”
“Several more LNG export projects are expected to be completed in coming years. Once completed US LNG exports capacity is expected to reach 9 billion cubic feet per day by the end of 2019, making our country the 3rd largest exporter behind Australia and Qatar”
Steven Winberg, Assistant Secretary for Fossil Energy at the Department of Energy
“The United States is the now the world’s largest producer of natural gas and crude oil. Each month we’re setting new record levels of production. The surge in natural gas production amounts to an increase in over 60% from 2009, and this year’ production is on pace to exceed last years by nearly 10%.”
“U.S. LNG cargos have landed in Europe, Asia, Africa, the Middle East, South America, North America, and the Caribbean, to 36 countries in total. U.S. LNG so far in 2019 has exceeded 55 cargos through April of this year.”
“The increased use of natural gas has helped lower energy related carbon emissions to levels not seen since the late 1980s. According to the EIA, US energy related carbon dioxide emissions will be 4 percent below the 2018 levels in 2050 as the use of natural gas in the United States continues to increase.”
“The administration and the DOE have also made it a top priority to highlight the economic benefits of the Appalachian petrochemical industry. Made possible by the surge of natural gas production in the region, industry has estimated that an Appalachian petrochemical industry can support a total of 5 ethane crackers, 100,000 jobs, and contribute to the revitalization of the region”
View Mr. Winberg’s written testimony by clicking HERE.
Dennis Arriola, Executive Vice President and Group President at Sempra Energy
“The supply of inexpensive natural gas is expected to increase to 90 billion cubic feet per day in 2020, which is a 30% increase from 2017. This growth in natural gas is good for American consumers, our industries, for electric generation, but also for international buyers of LNG. Today the US accounts for about 22% of the global gas production and is on track to be the largest exporter of LNG by 2024, maybe sooner.”
“More than half the countries in Asia have air quality challenges and need cleaner natural gas from LNG to displace less clean resources and combat climate change, so the trend obviously is to phase out coal-fired power. Natural gas is a logical substitute because is comparatively low cost and {has} environmental benefits and it emits 50% of the carbon dioxide of coal. It also complements the growth of renewable resources like wind and solar. And so, as part of an overall portfolio, natural gas makes sense.”
“The role of LNG exports in the U.S. is global energy leadership, I think it is larger than any of us can actually imagine, and it’s going to continue to grow.”
View Mr. Arriola’s written testimony by clicking HERE.
Charlie Riedl, Executive Director at the Center for LNG
“America’s abundance of natural gas has led to our emergence as a world-class exporter of natural gas, creating U.S. jobs, growing our economy, significantly strengthening global energy security — all while reducing emissions and pollution”
“Each of these projects individually represents billions of dollars of investment in America’s energy future. By seizing and executing on the opportunity made possible by our enormous supply of natural gas, the U.S. LNG industry is poised to provide natural gas that will improve our trading partners’ access to clean energy, while providing jobs and a stable supply of natural gas and revenues here in the United States.”
“The Department’s study determined that increased production will drive investment to revitalize economically depressed regions that bring thousands of jobs to the areas. The promise of more LNG facilities in the United States also brings the promise of a new era benefiting the US economy and our environment.”
View Mr. Riedl’s written testimony by clicking HERE.
Recent Blogs:
