With the United States sudden surge to the number one position among oil and natural gas producing nations, followed by U.S. energy independence, Congress 18 months ago removed the 40-year restriction on oil and gas exports.
This has opened up an immense new export opportunity for U.S. producers. Hundreds of natural gas companies are eager to get into the game. A huge global market for U.S. gas awaits. And that means jobs for attorneys.
Last year, global gas consumption grew by 63 billion cubic meters. U.S. LNG exports surged more than 550% over 2015. LNG exports would have increased much more if more LNG terminals were already on stream. The International Energy Agency reports that U.S. production will be responsible for 40% of global natural gas growth between now and 2022.
Until recently, U.S. natural gas was consumed domestically, transported through a huge network of pipelines running thousands of miles across state lines. However, LNG “liberates” gas, enabling it to reach global markets by tanker ship. Unlike oil, LNG shipments are much safer. In the 60 years since LNG tanker shipments began, there has never been a spill.
The LNG opportunity is one that European nations are examining carefully, with increasing enthusiasm. Not only do they not have an extractable domestic natural gas supply; they also must rely on pipeline supplies from Russia, not the most reliable energy partner. With the emergence of U.S. LNG exports, these countries don’t need to look far for a reliable alternative.
LNG Companies to Watch
The following companies are first past the post when it comes to LNG exporting:
- Cheniere Energy http://cheniere.com
- Dominion Energy http://dominionenergy.com
- Chevron http://chevron.com
- Veresen http://vereseninc.com
- KBR http://kbr.com
Unlike oil, there are literally hundreds of natural gas companies eager to avail themselves of the LNG opportunity. Within a few years, there will be 15 U.S. LNG export terminals in operation, according to the Federal Energy Regulatory Commission http://ferc.gov
For More Information
American Gas Association http://aga.org
Energy Information Administration https://eia.gov
America’s Natural Gas Alliance http://naturalgassolution.org
The Center for LNG https://lngfacts.org