LNG, the Epicenter of Energy Diversification
- Sep 12, 2018 5:15 pm GMT
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Liquified natural gas drives the discussion around clean energy and diversification
The 2018 American LNG Summit hosted by Congressman Ted Yoho was a gathering of liquified natural gas (LNG) and economic development experts, policy makers, energy experts and international delegations. The attendees were distinguished innovators that drove discussions about LNG in Jacksonville and the North Florida region and facilitated idea generation to impact the global future of energy for years to come.
Congressman Yoho introduced the Small Scale LNG Access Act of 2017 (H.R. 4370), a bill that seeks to amend the Natural Gas Act to expedite approval of all exports of small volumes of natural gas. The Congressman aims to establish North Central Florida and Florida’s 3rd Congressional District as an international trading hub and energy center for the future.
Discussions sparked by LNG thought leaders generated a handful of noteworthy takeaways that will affect the energy industry, regardless of whether the bill ultimately is signed into law.
Energy diversification. An increase in LNG production and distribution means greater diversification of the global fuel market and a more balanced and predictable energy supply that reduces uncertainty related to pricing, availability and reliability. LNG’s physical and chemical properties make it safer than other hydrocarbons and it meets all current and foreseeable emissions requirements.
Economic development impact. Because LNG is environmentally friendly with clean burning fuel that emits less carbon dioxide than other fossil fuels, it’s widely recognized as a sustainable alternative fuel. LNG is domestically produced and its abundance in the United States gives America the opportunity to reduce our domestic reliance on imported fuels, and introduce U.S. exports to the global supply chain, creating local jobs and prompting profound levels of economic growth.
Solving energy challenges. While conventional air pollutants are a well-known issue in the electricity and transportation sectors, clean-burning LNG can greatly reduce pollution, helping organizations meet increasingly stringent environmental regulations. In addition, the economic growth that can be enjoyed through greater demand provides a powerful justification for making investments in clean fuel and new power systems.
While LNG use has been relatively small scale in the energy industry, it indeed has a track record of safety in the applications where it has been used, for decades, as a source of power across the world. Innovation in the energy production industry happens at a slower pace than in many other industries, but it’s time for American LNG to lead the clean fuel revolution. As we saw with the great minds who participated in the 2018 American LNG Summit, there’s a strong contingent of leaders who are taking the necessary steps to make a difference.