American Petroleum Institute, a U.S. industry body representing oil and gas companies’ interest, has voiced its backing for the approvals of new LNG facilities.
Namely, Department of Energy’s (DOE) non-free trade agreement export was authorized for Venture Global’s Calcasieu Pass liquefied natural gas (LNG) export facility last week while the U.S. Senate introduced a bill to speed up the Federal Energy Regulatory Commission’s (FERC) reviews of LNG terminals and other energy infrastructure.
Todd Snitchler, API’s vice president of market development, said: “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.
“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,” Snitchler added.
API said that 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.
According to the organization, the US 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.