May 28th 2015- FORBES
The energy revolution is set to begin its next phase, and it’s going to be glorious. The Obama administration gave its approval last week for another liquefied natural gas (LNG) production facility in Corpus Christi.
Increased LNG exports will help stabilize the U.S. market
According to the American Petroleum Institute, LNG exports could generate between 73,100 and 452,300 jobs between 2016 and 2035, when economic multiplier effects are figured in. The GDP would see a boost of between $15.6 billion and $73.6 billion annually between 2016 and 2035.
“The practical benefits of LNG exports and unconventional gas development are indisputable, They will help produce liquidity in global LNG markets and provide other nations with additional natural gas resources, gradually opening foreign commodities markets.” – Charif Souki Chairman and CEO of Cheniere
Here’s how unexpected the energy revolution, brought about by improvements in the hydraulic fracturing process, was — the Corpus facility was designed to be an import facility back in 2008. Now it’s being built to ship out the stuff.
Corpus Christi is already seeing those benefits, as construction begins.
“We have initiated construction on our second LNG export facility, the Corpus Christi liquefaction project. Including our LNG export facility at Sabine Pass, we now have six trains under construction, with first LNG expected at Sabine Pass from Train 1 by year end,” said Charif Souki , chairman and CEO of Cheniere, the company opening the facility.
According to the Corpus ChristiCaller-Times, “The $11 billion project could produce 13.5 million tons of natural gas annually. The first train is slated to start operating in 2018, and the second train is expected follow six to nine months thereafter.”
Of course, environmentalists will never love natural gas, because it’s not an emissions-free source of energy. At the same time, they often work to block the only true emissions-free source — nuclear power. Green energy solutions aren’t yet capable of providing the sustained power the industrial world requires. Unless and until such solutions are solutions indeed, natural gas is a proven, cleaner source of power.
So let the revolution continue. The benefits will be incredible.
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Certain statements in this blog post may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release and other potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statement.