WASHINGTON, August 7, 2013 ─ Erik Milito, API director of upstream and industry operations, called on the Department of Energy (DOE) to move quickly to process a backlog
of applications to export liquefied natural gas (LNG) to countries that do not have free trade agreements with the United States. The Department today approved only the third of 19 applications since 2011.
“The Lake Charles permit is a welcome signal that Energy Secretary Moniz recognizes the importance of LNG exports to economic growth, but there are still thousands of jobs and billions in investments waiting on the sidelines for federal approval. America is experiencing an energy revolution thanks to our abundant natural gas resources, and LNG exports are critical to unlocking the benefits for U.S. workers and reducing the trade deficit.
“The law presumes that all exports are in the public interest, and the DOE has every reason to expedite approvals. LNG exports will grow the economy and help bring back millions of U.S. jobs in engineering, manufacturing, construction, and facility operations.”
LNG exports would spur strong growth in U.S. GDP, but U.S. companies face considerable competition for LNG sales abroad, with at least 63 international LNG export projects currently planned or under construction, according to API. U.S. LNG exports could create tens of thousands of domestic jobs while having only minimal impacts on domestic U.S. natural gas prices, according to a recent report
by ICF International.
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 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $86 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.