Thursday, January 27, 2011

American businesses plan to export gas

Inspired by the discovery of huge deposits of natural gas in the U.S., the two companies are developing them along the Gulf Coast in order to export gas to Asia, and possibly the Middle East. In the future the U.S. can become a major energy exporter, patched a hole in the U.S. trade deficit. Although the U.S. is now the largest importer of energy, mainly crude oil, last year the country became more purchasing coal, diesel and other fuels. However, some individuals and groups argue that new opportunities for export of gas is not in the interests of the country and have no economic sense.
The company Freeport LNG Development LP, working with an Australian financial firm Macquarie Group, expects to receive its first federal permit over the next few weeks. The company, which already has a tower south of Houston, which she uses to import natural liquefied gas, plans to add equipment that will allow it to export gas. Houston Cheniere Energy Inc., Which has a receiving terminal in Louisiana, has already received a partial resolution, which required her to receive long-term contracts to export gas. Companies also need to install new equipment that would cost her a few billion dollars. American companies hope to sell gas at lower cost in foreign markets, where contracts for natural gas associated with the much more expensive crude oil. The largest gas producers, including Chesapeake Energy Corp. and EnCana Corp. enthusiastically embraced the idea. This will allow them to receive more gas from new fields without cluttering up the U.S. market.
Large industrial gas consumers are concerned that the provision of 20-year export licenses may raise natural gas prices and make American companies that use it, not competitive. Proponents point to the creation of new jobs. Together, the two fields in the Gulf of Mexico could provide export 3.4 billion cubic feet of gas daily on board the tanker, which is approximately 5% of current U.S. consumption. President of Cheniere Charif Swauk claims that gas exports totally makes sense and is combined with a desire to Obama's double American exports over the next five years.

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