Coast Guard, Industry Navigate Future of Liquefied Gas - Global Trade Magazine
  December 31st, 2015 | Written by

Coast Guard, Industry Navigate Future of Liquefied Gas

Sharelines

  • The maritime community is experiencing a shift with the increased transport and use of liquefied gases.
  • LNG shipping or fueling operations are or will be underway in 60 percent of U.S. ports.
  • DOE Assistant Secretary: There is great interest internationally in how this U.S. natural gas business evolves.

Senior Coast Guard leaders and liquefied-gas-industry experts from around the country came together the second week of December to prepare for the increased use of liquefied gases throughout the maritime community and gain a deeper understanding of the intricacies each party faces as they adapt to the rapid growth in this multibillion dollar industry.

The maritime community is experiencing an international shift with the increased transport and use of liquefied gases. The increased supply created by the U.S. energy renaissance and environmental limitations put in place are further expanding this growth in the U.S. New import and export facilities, as well as liquefied gas fueled vessels and bunkering operations are either already underway, or soon to be kicked off in roughly 60 percent of ports the Coast Guard oversees.

Department of Energy Assistant Secretary for Fossil Energy Chris Smith, whose career in the private sector included work on an import facility now being fitted as an export terminal, provided the forum’s keynote remarks.

Smith said the ability to extract oil and gas out of shale formations is an important energy evolution globally in terms of new technology.

“The United States, for the first time in decades, is producing more oil and natural gas, here, domestically, than we import from other countries. So it’s a significant impact that this technological change has had,” Smith said.

Advancements in gas extraction present a good opportunity for the United States, a good opportunity for American consumers, and a good opportunity for American businesses, Smith added. There is also great interest internationally in how this business evolves.

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