The American Petroleum Institute issued a statement today supporting the Department of Energy’s (DOE) non-Free Trade Agreement export authorization for Venture Global’s Calcasieu Pass liquefied natural gas (LNG) export facility last week, along with the introduction of a Senate bill designed to speed the 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,” said Todd Snitchler, API’s vice president of Market Development. “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, and we look forward to working with them and with Congress to get more of these projects up and running 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 $360B. The U.S. 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. U.S. natural gas abundance is integral to the domestic energy revolution that has lifted the economy, created jobs and significantly advanced climate goals.
About American Petroleum Institute
API is the only national trade association representing all facets of the natural gas and oil industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 47 million Americans. API was formed in 1919 as a standards-setting organization. In its first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.
SOURCE: American Petroleum Institute