Liquefied natural gas (LNG) exports will grow the U.S. economy while strengthening the energy security of the United States and its allies, including Ukraine, according the American Petroleum Institute.
“For the first time in generations, the United States is an energy superpower,” said Erik Milito, API director of upstream and industry operations. “And the world, especially Europe and countries like Russia, China and India, is watching closely to see if American policymakers are ready to harness that power on the international stage.”
Milito spoke to reporters about U.S. energy infrastructure and opportunities during a March 12 conference call.
“Now is the time to build our energy infrastructure, expand exports and lock in the economic and geopolitical opportunities that our energy revolution has created,” he said. “To do that, we need continued support from policymakers in Washington, D.C., to build LNG export terminals.
Milito said U.S. allies are eager to diversify energy supplies with reliable, steady supplies from the United States.
“By accelerating exports, we can strengthen the global energy market against future disruptions and send a signal to the world that the United States is ready to lead,” he added. “Our growth as a major exporter would bring competition into the market and help ease the ties that bind our allies to any single supplier.”
Milito cited a NERA study commissioned by the U.S. Department of Energy, which concluded that LNG exports would yield net economic benefits across all scenarios and showed that concerns about domestic natural gas prices were unfounded.
“The only thing standing between America and a steady flow of jobs and capital are self-imposed bureaucratic restrictions,” Milito said.