Cheniere Energy's Sabine Pass LNG terminal near Cameron, La.
Landmen are once again roaming the hills of the Southern Tier of New York, hoping to entice landowners to sign leases allowing drillers to extract natural gas. One of their mantras is that this fuel will provide domestic energy for US consumers and free us from dependence on foreign oil.
What they don’t say is that for the past couple of years these same energy companies have been lobbying the federal government for permits to build LNG export facilities – or modify import facilities so they can export the gas. So, let’s catch up on the news….
On Tuesday Reuters reported that Cheniere Energy is building a $5.6 billion project in Sabine Pass, Louisiana. The project, expected to be ready by 2015, is getting a $1 billion boost from China and Singapore.
“New technology,” writes Stephen Aldred, “has opened up supply of natural gas from previously inaccessible shale fields in the U.S., altering the global dynamics of the industry, and turning the country from an importer to a potential exporter.” He notes that Cheniere has already signed long-term commercial contracts to supply gas to India and Korea.
Then yesterday, a reporter from South Korea Public Television called a colleague in Pennsylvania’s GasLand to arrange a tour of PA gas fields and to speak with residents. “He said the US Chamber of Commerce and the US State Department went to his country to promote shale gas,” she says. “His country is considering importing natural gas.......liquified natural gas.......to meet their energy needs.”