POLL FINDINGS: Industry opposes limits on US LNG exports
The majority of the hydrocarbon processing industry (HPI) believes the US should not limit its LNG exports in order to keep domestic prices low, according to a new poll of Hydrocarbon Processing readers.
Instead, the global market should be able to gain access to rapidly-growing gas supplies in the US, the readers say.
Nearly 60% of respondents (58%) were against the limits, which executives at oil firms Shell and Total have said are likely to occur.
Meanwhile, 34% of readers who responded said they would be in support of limits, citing energy security among several reasons. Another 9% said they were somewhat in favor of limits, as long as they werent too restrictive.
If limits are put into place, it means that European natural gas prices would likely remain much higher than those in the US for years to come, with negative implications for the competitiveness of European industry.
On the other hand, low prices for natural gas could offer US manufacturers a powerful competitive advantage, according to several HPI executives.
Thats why many within the US petrochemical sector have spoken out in support of limits, even with several rival energy companies planning to build plants to convert some of the domestic gas surplus into LNG that could be shipped internationally.
To see more details on this poll as well as access prior Hydrocarbon Processing poll results, click here.
(Editors note: Polls are where we at Hydrocarbon Processing gather industry sentiment on significant issues of the day. Visit the HP home page to weigh in on our latest poll regarding the effects of the US presidential election on the HPI.)