Liquefied natural gas policy overdue for an update

Posted on Jan 26, 2016 in News

The Hill | Mark Maddox | 1/25/16 –

Sen. Lisa Murkowski (R-Alaska), chairwoman of the Senate Energy and Natural Resources Committee, has included liquefied natural gas (LNG) export legislation in a broader energy package that the Senate is expected to consider shortly. This is welcome news. It is time to put the export of LNG, which is natural gas cooled to its liquid form and loaded onto tankers for regasification at its destination, on a similar regulatory footing as oil.

An energy package incorporating LNG export legislation modeled after the oil export bill and which includes provisions allowing for emergency suspensions, sanctions and exemptions for “trading with the enemy,” and certainty for industry on permitting, would strengthen our environment, grow our economy and enhance our national security. It would also do the same across the globe.
But don’t just take my word for it.

The U.S. Department of Energy recently released a report, “The Macroeconomic Impact of Increasing LNG Exports,” that was conducted by Oxford Economics and Rice University. According to the report, “the overall macroeconomic impacts of LNG imports are marginally positive, a result that is robust to alternative assumptions for the U.S. natural gas market.” It then projected additional growth of 0.3 to 0.7 to the national gross domestic project (GDP) under a high-export scenario.

The full article from The Hill is here.