https://www.chron.com LNG industry looks to positive economic impact of exports Rebecca Maitland
A study by ICF International, a management technology and policy consulting firm, showed LNG exports are expected to contribute up to 665,000 net job gains nationwide and up to $115 billion net Gross Domestic Product value added to the U.S. economy by 2035.
A study by ICF International, a management technology and policy consulting firm, showed LNG exports are expected to contribute up to 665,000 net job gains nationwide and up to $115 billion net Gross Domestic Product value added to the U.S. economy by 2035.
The liquefied natural gas industry (LNG) is moving forward in exporting natural gas, which already is having a positive effect on the economy.
The Center for Liquefied Natural Gas reports that exporting LNG represents one of the most promising economic opportunities. LNG exports can reduce the trade deficit; increase government tax revenues; grow the economy; and support millions of U.S. jobs in engineering, manufacturing, construction and facility operations.
Each LNG export terminal is a multibillion-dollar investment, often $10 billion-plus, that not only creates construction jobs, but permanent jobs throughout the natural gas value chain.
A study by ICF International, a management technology and policy consulting firm, showed LNG exports are expected to contribute up to 665,000 job gains nationwide and up to $115 billion Gross Domestic Product value added to the U.S. economy by 2035.
For example, the Cove Point export facility being built in Maryland is creating over 4,000 construction jobs. It is adding another 14,600 jobs around the country, from steel workers to accountants, and manufacturers of turbines, concrete, steel pipe and instrumentation, and others for equipment.
Companies and manufacturers in at least 15 states contribute to construction of each LNG export terminal.
“There are five LNG export facilities under construction and there are approximately 33 awaiting permits and approvals,” said Casey O’Shea, spokesperson, Center for Liquefied Natural Gas.
Some LNG export facilities under construction and permitted are around the Gulf Coast, such as Cheniere Energy’s Sabine Pass and Corpus Christi facilities; Sempra’s Hackberry, Louisiana plant; and Freeport LNG near Freeport.
Moreover, 26 of the 33 LNG export applications that the U.S. Department of Energy is reviewing are located in Texas or Louisiana.
“The LNG export projects awaiting DOE’s approval represent billions of dollars of investment in the U.S. economy that will lead to significant job creation throughout the manufacturing value chain,” O’Shea said.
However, it is not just in the U.S. where American companies are building LNG export and import facilities. American companies are partnering with other companies in many countries on either contracts for services and products or to build import or export facilities, depending on the country’s need.
“In demand centers such as India and Asia, import terminals are either on the drawing board or under construction,” O’Shea said.
With American companies partnering with international companies, much of the work for these facilities will be completed in Houston or a branch office of an American company in a another country.
For example, Cheniere has agreed in principal to partner with Parallax Enterprises LLC to develop LNG production capacity through Parallax’s two mid-scale projects, Live Oak LNG (Louisiana) and Louisiana LNG (Mississippi River). The facilities are being engineered by Bechtel Oil, Gas & Chemicals Inc.
“Our latest LNG development projects include two additional liquefaction trains adjacent to our Corpus Christi liquefaction site and four mid-scale liquefaction trains to be developed at two sites in Louisiana. This next phase of growth would bring our expected aggregate nominal LNG production capacity to approximately 60 mtpa by 2025,” said Charif Souki, chairman and CEO, Cheniere Energy.
https://www.chron.com/jobs/article/LNG-industry-looks-to-positive-economic-impact-of-6377908.php
