Freeport LNG Becomes Member of OEM Coalition

Freeport LNG Becomes Member of OEM Coalition

Our Energy Moment (OEM), a diverse group of businesses and economic development organizations dedicated to raising awareness and celebrating the many benefits of expanded markets for liquefied natural gas, announced that Freeport LNG Development has joined its growing coalition.

“We are pleased that Freeport LNG has joined our growing coalition,” said Andrew Ware, OEM spokesperson. “OEM looks forward to working together with Freeport and all of our coalition members to expand LNG export markets while reducing our trade deficit in the process. It is our hope that others will realize LNG’s economic and national security benefits for our long-term energy independence.”

“LNG exports can help to diversify energy markets in some vulnerable parts of the world. Their increased energy security increases our national security. In addition, LNG exports represent an incredible opportunity for the U.S. to expand jobs, strengthen its economic security and reduce its trade deficit all the while maintaining a domestic fuel cost advantage for manufacturing,” said Michael Smith, Chairman and CEO of Freeport LNG. “We are pleased to seize this game-changing opportunity and join OEM’s growing coalition to help position the U.S. as a net producer of natural gas in the years to come. This is truly at a defining energy transformation moment, and we’re glad to be a part of it.”

America’s natural gas revolution offers a transformational opportunity to reshape U.S. economy. According to recently published studies, LNG exports are expected to generate as much as $86 billion in net benefits to the U.S. economy and help create up to 2.4 million American jobs by 2035 supported by natural gas. Expanded markets for LNG exports also would incentivize new infrastructure investments worth billions of dollars in American communities, providing more jobs, taxes and revenue for roads and schools in U.S. states that produce natural gas.

In his State of the Union address in January, President Barack Obama highlighted the key role natural gas plays in job creation and in America’s transition to energy independence, saying, “Today, America is closer to energy independence than we have been in decades. One of the reasons why is natural gas.” The President told America during his address that “one of the biggest factors in bringing more jobs back is our commitment to American energy.”

Press Release, March 20, 2014; Image: Freeport LNG