API Director of Upstream and Industry Operations Erik Milito underscored the strategic and economic value of American energy exports after the Federal Energy Regulatory Commission (FERC) today issued an Environmental Assessment for the liquefied natural gas (LNG) export facility in Cove Point, Maryland.
“The technology-driven revolution in U.S. oil and natural gas production has opened the door to export opportunities that could create thousands of jobs in Maryland and around the country,” said Milito. “The Cove Point project has been under review for nearly two years, and it has the strong support of Maryland voters who understand that it will strengthen the state’s economy, as well as America’s position as a major energy supplier to our allies around the world. After the 30-day comment period, we urge federal regulators to quickly approve the facility, making it only the second LNG export project to have both Department of Energy and FERC authorization. With over 60 foreign projects already planned or under construction, there is a global race to build this infrastructure, and Cove Point could play an important role in securing America’s trade advantage as the world’s top natural gas producer.”
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 20 million Americans.