Obama: U.S. to Likely Become Net Natural Gas Exporter by 2020
May 6, 2013
Over the weekend, President Barack Obama said that the U.S. would likely be a net natural gas exporter by 2020. This major announcement follows the World Energy Outlook’s scenario forecast that also sees the U.S. becoming a net gas exporter by 2020 and even nearly self-sufficient by 2035. President Obama indicated in his trip to Costa Rica during the weekend that he still has to make an executive decision about the U.S. exporting liquefied natural gas, but with the Department of Energy studying applications for liquefied natural gas terminals (and approval of one in Texas expected soon in addition to the belief that subsequent terminals will be proposed), it seems more of a formality that the U.S. will solidify its devotion to a new energy policy and take the reigns as a natural gas exporter. It especially seems an apt time for the U.S. to commit rigorously to a becoming a net exporter of natural gas considering that prices of liquefied natural gas in the U.S. have become relatively cheap when compared to Europe and Asia. The statement by the Obama administration is also seen as an advocate for natural gas as opposed to oil and coal as a way to reduce greenhouse emissions (in addition to renewable energy sources).