Energy Firms Step Up Efforts To Export Surplus Gas

oil newsAbout a decade back, clean, cheap natural gas was attractive to Americans to import cheap fuel. This is now reversed. Energy firms are now exploring untouched gas fields, encouraging them find ways to export their newly found gas to energy starved world.

A lot of organizations have already chalked out plans to construct export terminals for liquefied natural gas or LNG, increasing the possibilities of a billion dollar construction boom and to increase job opportunities in the United States of America.

Usually gas is transported through pipelines, which is not feasible for getting to places outside North America. In order to surmount this transport hurdle, gas will be compressed to its liquid form and loaded it into tankers for delivery to foreign countries.

Cheniere Energy Inc. and Dominion Resources Inc. are planning to construct LNG export terminals next to their present import terminals.

Sempra Energy has submitted application for permission to export LNG from its Cameron LNG site in Louisiana.
Canadian companies Encana Corp., EOG Resources as well as Apache Corp. have plans to construct an LNG export site situated in Kitimat, British Columbia.

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Leo Pierson

About Leo Pierson

Former partner in a real estate management firm, Leo, has been active in the market for the last 8 years. Ex-blogger on penny stocks, now focused on long term growth stocks, Leo provides valuable market snapshots each day as part of our editorial team.

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