The American Petroleum Institute (API) is supporting a pair of recent actions boosting liquefied natural gas (LNG) initiatives.
API officials are espousing the benefits of the Department of Energy’s (DOE) non-Free Trade Agreement export authorization for Venture Global’s Calcasieu Pass LNG export facility and the introduction of legislation designed to expedite Federal Energy Regulatory Commission’s (FERC) reviews of LNG terminals and other energy infrastructure.
“This year is shaping up to be a big one for U.S. LNG, and the announcements from Congress and the DOE last week are going to help our members continue to bring the American energy revolution abroad,” Todd Snitchler, API’s vice president of Market Development, said. “We’re excited Senators Murkowski, Cassidy and Gardner are making FERC reviews of energy infrastructure, including new LNG terminals, a priority. The DOE’s export authorization for Calcasieu Pass shows they recognize the potential for U.S. LNG abroad.
Snitchler said API looks forward to working with Congress to get similar projects functional to meet growing global demand, as well as provide cleaner fuels abroad.
Global demand for LNG set a new record in 2018 and is expected to double by 2035, with global investment in pending export projects totaling over $360 billion.
API estimates that the United States is poised to become the world’s third largest LNG supplier as soon as the end of 2019, with multiple projects in Louisiana, Texas, and Georgia set to come online over the next several months.
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