Dow Supports U.S. DOE Approval of Freeport LNG Export License

The Dow Chemical Company supports decision by the Department of Energy (DOE). It is a prudent step in pursuit of a measured and balanced approach to liquefied natural gas (LNG) exports that will benefit producers and consumers, such as manufacturers, utilities, homeowners and the American public.

This decision by the Department of Energy is a step toward a more robust national energy strategy, and provides the greater clarity and certainty that businesses need to make investment decisions. The DOE appropriately executed a public interest determination as obligated under the law. As the DOE considers remaining requests, it is important U.S. create an environment that fosters production and smart regulation. Dow will adopt a wait and see approach regarding further approvals, while continuing to advocate for transparent, sequential decisions like this one, which follow the established process and consider the cumulative impact of each permit on overall economy.

Every dollar of natural gas in domestic manufacturing creates upwards of $8 of added value in the overall economy – far more than exporting it as a fuel. The DOE approval announced on Friday will allow domestic manufacturers to continue to further advance the resurgence of American manufacturing.

Shale gas has brought a competitive advantage to the United States. This incremental, thoughtful approach supports an increased level of natural gas production and adds certainty for domestic manufacturers who seek to invest in the US and grow jobs, such as Dow is doing in the U.S. Gulf Coast. These investments and others totaling more than $100 billion are fueling a U.S. manufacturing boom.

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LNG World News Staff, May 20, 2013