Ore. LNG backers see renewed hope _ in exports
Monday, July 18, 2011
PORTLAND, Ore. (AP) -- Energy companies see renewed hope for putting liquefied natural gas terminals on the Oregon coast -- this time to export the new supplies drillers have uncovered by "fracking" shale formations.
Originally, backers of the terminals planned to use them for imports. The Oregonian newspaper reports that two years ago they laughed off the idea that they could use the terminals to export gas.
But now, they're talking about doing just that -- encouraged by economics that would allow U.S. producers to get double or triple their net by exporting to Asia rather than selling domestically.
That raises fears among some, including Oregon's two U.S. senators, that exporting domestic natural gas is a step toward making the market global and raising prices in the United States for a resource that's abundant.
Information from: The Oregonian, http://www.oregonlive.com