News Release: Port of Corpus Christi Poised to Export LNG, Geopolitical Relationships
Feb 27, 2018
Corpus Christi, TX, USA – The House Natural Resources Committee’s Subcommittee on Energy and Mineral Resources today held a hearing on “Liquefied Natural Gas and U.S. Geopolitics” examining the impact of LNG exports on national and international security. At the close of the hearing, Sean Strawbridge, Port of Corpus Christi CEO, released the following statement:
“We applaud Subcommittee Chairman Paul Gosar for his leadership in convening this important discussion. Given the extent of our resource wealth, it makes sense for the United States to meet our allies’ natural gas needs and lessen the ability of unfriendly foreign nations who use energy supply as a geopolitical weapon. Increased LNG exports will be a boon for the U.S. economy. As the nation’s largest exporter of crude oil, we have seen the value and economic impact of energy exports. Our $327 million channel expansion project — which was approved in the President’s 2019 budget — and the ongoing Harbor Bridge replacement project will position the port for additional growth in the future with LNG export facilities as well.
“We support the work of companies like Cheniere and Tellurian who are developing projects that stand to deliver such significant benefits at home and abroad by helping to position our nation as a dominant force in the global energy markets. We hope that our policymakers continue to recognize the importance of these projects and what they represent for our future security.”
The hearing featured representatives from Cheniere Energy and Tellurian Inc. On Feb. 9, Cheniere announced a pair of LNG sale and purchase agreements with China National Petroleum Corporation. The deal will result in Cheniere — in part, through Corpus Christi Liquefaction — providing 1.2 million tons of liquefied natural gas to the Chinese company annually.
In 2017, United States became a net exporter of LNG for the first time since 1957. Earlier this month, the U.S. Energy Information Administration (EIA) found in its 2018 Annual Energy Outlook that American LNG export facilities will play a key role in meeting global demand and driving continued domestic natural gas production.
About Port Corpus Christi
As the leading U.S. crude oil export port and a major economic engine of Texas and the nation, Port Corpus Christi is the 4th largest port in the United States in total tonnage. Strategically located on the western Gulf of Mexico with a 36 mile, 47 foot (MLLW) deep channel, Port Corpus Christi is a major gateway to international and domestic maritime commerce. The Port has excellent railroad and highway network connectivity via three North American Class-1 railroads and two major interstate highways. With an outstanding staff overseen by its seven member commission, Port Corpus Christi is “Moving America’s Energy.” http://www.portcorpuschristi.com/
House Subcommittee Hearing Statement_LNG Exports-2-2018 – Click for PDF Download