API Applauds Bipartisan Senate Support To Expedite LNG Export Review
API Group Director for Upstream and Industry Operations Erik Milito praised the bipartisan leadership of 34 Senators, who called for an expeditious review of applications for U.S. LNG export facilities ahead of global competition to meet growing demand for natural gas.
“Bipartisan support in Congress continues to grow for expediting the review of LNG exports. Numerous studies have determined that expanding LNG exports to serve expanding markets will produce significant economic benefits for American consumers, drive economic growth and more government revenues.
“Further delays will only weaken our nation’s ability to achieve our energy and economic opportunities.
“We have an abundance of natural gas to meet our domestic needs and to export it to our strategic allies around the world. We continue to urge the U.S. Department of Energy to approve pending applications and unleash the many benefits that it could bring to our nation."
U.S. LNG exports could create tens of thousands of domestic jobs, and projected U.S. LNG exports are less than 8 percent of projected U.S. consumption and less than 2 percent of EIA’s estimates of the U.S. total natural gas resource base, according to a report by ICF International.
API thanked U.S. Senator James Inhofe (R-Okla.), Senator Mark Begich (D-Alaska) and their 32 colleagues for their letter to Secretary Ernest Moniz urging the Department of Energy to consider the effect on the U.S. economy to compete effectively if pending LNG export applications do not receive diligent review.
API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 500 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.2 million U.S. jobs and 7.7 percent of the U.S. economy, delivers $85M a day in revenue to our government, and, since 2000, has invested over $2T in U.S. capital projects to advance all forms of energy, including alternatives.