LNG Exports to the EU Are All About Their Freedom and Our Economy

Green Bank - Tom ShepstoneTom Shepstone
Natural Gas NOW



More LNG exports to the EU are coming and they will help ensure the future freedom of Europeans while continuing the revitalization of our rural America.

Bloomberg News put out a wonderful story yesterday over its news service about what’s happening in the world of LNG exports. BusinessMirror carried it. It’s a must-read if you want to know what’s going to help continue the rural economic revitalization we’ve seen in Ohio, Pennsylvania, Texas and elsewhere. The shale revolution has delivered huge economic benefits to places such as Susquehanna County. The prospects for more such revitalization just got a boost with news the Trump Administration and the EU have made some trade agreements that will ensure more LNG exports from us to them.

LNG Exports

New LNG carrier ship under construction

Here are a few excerpts from this great news story (emphasis added):

Europe will build more terminals to import US liquefied natural gas (LNG), the head of the European Commission (EC) told US President Donald J. Trump during a meeting aimed at averting a transatlantic trade war…

LNG imports from Europe are poised to rise almost 20 percent by 2040 from 2016 levels, according to International Energy Agency (IEA). While Russia has long been the region’s top supplier, it’s now facing significant challenges from both the US and Qatar, rivals with vast natural gas reserves…

The comments by Trump and Juncker come as at least four new US LNG export projects are slated to start-up by 2020. Since early-2016 the US has shipped 41 cargoes of LNG to Europe, according to ship tracking data compiled by Bloomberg. That’s about 10 percent of US LNG exports.

Europe is looking to step up gas imports with its largest production field in the Netherlands slated to shut and France moves toward shutting nuclear power plants…

After Cheniere began shipping gas two years ago from its Sabine Pass terminal in Louisiana—the first to send shale output abroad—the US became a net exporter of the fuel for the first time since the 1950s. This year, Dominion Energy Inc. opened the first export facility on the East Coast, providing a quicker route to European buyers

Many of the continent’s buyers, particularly in Eastern Europe, are eager for alternatives to Russian supply. Gas flow to Europe was disrupted twice, in 2006 and 2009, over a pricing dispute between Russia and Ukraine. Meanwhile, Lithuania and Poland have built terminals to import cargoes of LNG from overseas, reducing their reliance on Russia.

This is all good. And, the Dominion Energy facility on the East Coast they’re talking about is, of course, the Cove Point terminal. It was completed over strong objections from the usual suspects (e.g., Chesapeake Climate Action Network), as environmental extremists funded by wealthy trust-funders fought it tooth and nail. Now, it’s shipping LNG exports to nations who need it. Moreover, it’s well-positioned geographically to serve the EU. More Marcellus Shale gas from Bradford and Susquehanna Counties will be going to places such as France and the Netherlands to heat homes and run factories. More people will be employed both here and there.

Most importantly, the Russians will have competition and no stranglehold on EU. They’ll have to instead do what they can to build up their Boston market with the help of corrupt pandering politicians in New York and New England who don’t want any more pipelines.

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