From America's Natural Gas Alliance on Wednesday:
Background: Following is a statement by Amy Farrell, vice president of market development for America’s Natural Gas Alliance on today’s announcement that the U.S. Department of Energy conditionally approved the Cove Point LNG export terminal.
“We welcome the Energy Department’s decision to approve the Cove Point export terminal in Maryland. As our economy continues working toward full recovery, this announcement will help spur significant benefits for our nation.
“Numerous experts have concluded that thanks to our abundant domestic supply, the United States can export natural gas while continuing to meet our growing demand for affordable energy here at home. By allowing the U.S. to compete in the global export market, a recent IHS Global Insight study found that our trade deficit could be reduced by more than $164 billion in 2020, which is equivalent to one-third of the current U.S. trade deficit.
“We encourage the administration to speed its approval of additional LNG export terminals so our nation can take further advantage of the many economic benefits that American natural gas production offers.”
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