Port of Corpus Christi poised to export LNG
The House Natural Resources Committee’s Subcommittee on Energy and Mineral Resources had held a hearing on ‘Liquefied Natural Gas and U.S. Geopolitics’ examining the impact of LNG exports on national and international security. At the close of the hearing, Port of Corpus Christi CEO, Sean Strawbridge, released the following statement:
“We applaud Subcommittee Chairman Paul Gosar for his leadership in convening this important discussion. Given the extent of our resource wealth, it makes sense for the United States to meet our allies’ natural gas needs and lessen the ability of unfriendly foreign nations who use energy supply as a geopolitical weapon. Increased LNG exports will be a boon for the U.S. economy. As the nation’s largest exporter of crude oil, we have seen the value and economic impact of energy exports. Our $327 million channel expansion project — which was approved in the President’s 2019 budget — and the ongoing Harbor Bridge replacement project will position the port for additional growth in the future with LNG export facilities as well.
“We support the work of companies like Cheniere and Tellurian who are developing projects that stand to deliver such significant benefits at home and abroad by helping to position our nation as a dominant force in the global energy markets. We hope that our policymakers continue to recognize the importance of these projects and what they represent for our future security.”
The hearing featured representatives from Cheniere Energy and Tellurian Inc. On February 9th Cheniere announced a pair of LNG sale and purchase agreements with China National Petroleum Corporation. The deal will result in Cheniere — in part, through Corpus Christi Liquefaction — providing 1.2 million tons of liquefied natural gas to the Chinese company annually.
In 2017, United States became a net exporter of LNG for the first time since 1957. Earlier this month, the U.S. Energy Information Administration (EIA) found in its 2018 Annual Energy Outlook that American LNG export facilities will play a key role in meeting global demand and driving continued domestic natural gas production.
For more information visit www.portcorpuschristi.com
5th Mar 2018
