API (American Petroleum Institute) has released a new study showing that increased exports of clean and abundant US natural gas (in the form of LNG) could support 220,000 – 452,000 additional American jobs and add up to US$73 billion to the US economy by 2040.
The study, conducted by ICF International, also concluded that increased LNG exports would have a minimal impact on natural gas prices. Key findings of the report include:
• Increased LNG exports volumes of up to 16 billion ft3/d in 2040 could support between 220,000 to 452,000 additional jobs and add US$50 billion – US$73 billion to the US economy.
• Estimates of current US natural gas resources are approximately 3700 trillion ft3
• The potential global market is now estimated to be 32 trillion ft3 by 2040
• Increased LNG exports are estimated to have a minimal effect on the price of natural gas.