US to Become Third Largest LNG Exporter in 2019
The coming year is expected to make the U.S. the third largest exporter of liquefied natural gas (LNG) in the world, creating jobs stateside while reducing emissions and providing reliable energy to countries around the world, said American Petroleum Institute (API).
API, Center for LNG, and LNG Allies, the three national trade associations specializing in U.S. LNG, today issued a first-of-its-kind joint statement on the extraordinary developments expected in U.S. LNG in 2019.
Todd Snitchler, Vice President of Market Development at the American Petroleum Institute, said: “The dramatic expansion of U.S. LNG exports since 2016 continues to deliver tremendous benefits across America and around the world. With LNG export capacity set to nearly double in 2019, the United States is poised to become a leading global supplier."
"U.S. LNG cargoes have already been delivered to nearly 30 countries around the globe, and with global LNG demand rapidly rising, we expect even more countries to reap the benefits—including reduced emissions—from U.S. LNG in the years to come,” Todd added.
Charlie Riedl, Executive Director of the Center for LNG, said: “The U.S. LNG industry is primed for remarkable growth in 2019, with multiple U.S. projects coming online to nearly double U.S. exports to the growing global market. Because of our massive natural gas resource base, the United States is in a unique position to provide natural gas to eager partners across the globe."
Charlie added: "As DOE’s recent NERA study demonstrates, even as exports grow, the price of natural gas is projected to be only slightly higher in 2040 than it was in 2010. Most importantly, modest price increases will be significantly outweighed by the positive economic benefits of exports.”
Fred Hutchison, President and CEO of LNG Allies, said: “As American LNG exports increase throughout 2019, thousands of new jobs will be created in the United States, millions of people in the developing world will be lifted from energy poverty, and global greenhouse gas emissions will be reduced as clean U.S. natural gas displaces coal in industrial and electric power applications. When you also factor in the geostrategic and competitive advantages of U.S. LNG—especially in markets that have long been dominated by a monopolistic gas supplier—this is truly a win-win-win situation.”
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, and 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.
The Center for Liquefied Natural Gas (CLNG) advocates for public policies that advance the use of liquefied natural gas (LNG) in the United States, and its export internationally.
A committee of the Natural Gas Supply Association (NGSA), CLNG represents the full value chain, including LNG producers, shippers, terminal operators and developers, providing it with unique insight into the ways in which the vast potential of abundant, versatile LNG can be fully realized.