API today released a new study showing that increased exports of clean and abundant U.S. natural gas (in the form of liquefied natural gas or LNG) could support between 220,000 and 452,000 additional American jobs and add up to $73 billion to the U.S. economy by 2040. The study, conducted by ICF International, also concluded that increased LNG exports would have a minimal impact on the natural gas prices. Greater use of natural gas across the world is estimated to reduce global greenhouse gas emissions, just as natural gas in U.S. power generation has helped reduce U.S. greenhouse gas emissions to near 25-year lows.
This report can serve as a tool for operators and regulators who want to assess the risk of SIMOPS while bunkering with LNG. The report provides a process and examples to help understand how a quantitative risk assessment can be applied to various types of vessels and operations to provide the information necessary to make decisions to ensure safe operations.
API has launched a new web-based map tracking liquefied natural gas (LNG) export projects, including those waiting for approval from the federal government. Approval of the multi-billion dollar export terminals could create thousands of American jobs, strengthen the U.S. geopolitical position, reduce global emissions, and help the Obama administration to meet its promise to double American exports.
In order to inform the current policy debate surrounding the granting of licenses for U.S. exports of liquefied natural gas (LNG), the American Petroleum Institute (API) commissioned ICF International to undertake a study of the energy market and economic impacts of LNG exports.
February 25, 2013 - The American Petroleum Institute (API) submitted these reply comments in response to various comments submitted during the initial comment period and in further support of the expeditious approval of pending LNG export applications by the U.S. Department of Energy (DOE). Included with the comments is the Status Report and Preliminary Results: The Economic Impacts of U.S. LNG Exports, prepared by ICF International.
What are the benefits of exporting LNG? Create and support thousands of jobs, generate billions of dollars in government revenues, reduce our trade deficit, help the industry operate efficiently by maintaining production levels thereby enhancing energy security and increase domestic production of associated natural gas liquids (NGLs), putting downward pressure on prices of chemical manufacturing feedstocks.
January 24, 2013 - These comments are submitted by the American Petroleum Institute (API) in support of the expeditious approval of pending LNG export applications by the U.S. Department of Energy. API fully agrees with the conclusion of the DOE “2012 LNG Export Study” that, across all scenarios, the U.S. stands to gain net economic benefits from allowing LNG exports.
A state-by-state study details significant U.S. job gains, manufacturing growth, and robust economic activity associated with future exports of liquefied natural gas (LNG).
The U.S. has abundant supplies of natural gas. Industry advancements in hydraulic fracturing and horizontal drilling have led to a dramatic increase in the estimated recoverable shale gas resources located in the United States. Natural gas can be safely exported through LNG. Exporting natural gas through LNG has significant benefits for the U.S. See details here.
Projected U.S. LNG exports are less than 8% of projected U.S. consumption; and less than 2% of EIA’s estimates of the U.S. total natural gas resource base.