Ted Yoho Champions LNG at Puerto Rico Summit
Last week, a Florida congressman traveled to Puerto Rico to take part in a summit on Liquified Natural Gas (LNG) which he continues to champion in Congress.
U.S. Rep. Ted Yoho, R-Fla., and U.S. Rep. Jenniffer Gonzalez-Colon, R-PR, hosted the second American LNG Summit in Puerto Rico. Last year, Yoho hosted the first summit in Jacksonville.
More than 80 groups, elected leaders and diplomats took part in the event as they examined LNG infrastructure, gas imports and exports, regulations, the role LNG can play in national security and new technologies.
“At the end of 2018, demand for LNG has seen a sixty-percent increase from what it was in 2017. We must capitalize on the growth of this energy sector. America has an abundance of LNG and industry leaders to carry it around the world to new and emerging markets,” said Yoho on Thursday. “That is why we have brought together industry leaders, regulators, and policy makers – but in addition, we have brought in several foreign delegations such as Turkey, Bangladesh, the Dominican Republic, the European Union, Canada, Taiwan, Japan and Spain.”
Yoho has increasingly grown active on LNG during his time in Congress. Last week, Yoho brought out the “Small Scale LNG Access Act” on Monday which “will expedite the approval of natural gas exports equal to or less than 51.1 billion cubic feet per year.” U.S. Rep. Mike Waltz, R-Fla., is cosponsoring the bill.
“The current permitting process for LNG export facilities is expensive, and small-scale projects often are not cost effective under current conditions,” Yoho’s office noted. “Reducing the time and investment required for small-scale exports will benefit U.S. production, manufacturing, and construction jobs while also reducing trade deficits with the importing country. Increasing LNG exports, even on a small scale, will positively impact the economies of the United States as well as the economies of those receiving U.S. natural gas.”
“With America’s vast natural gas reserves, JAXPORT in North Central Florida is in a position to be a valuable trading hub to meet global demand for Liquified Natural Gas (LNG) exports,” said Yoho on Tuesday. “At the end of 2018, demand for LNG has seen a sixty-percent increase from what it was in 2017. We must capitalize on the growth of this energy sector. Jacksonville is an ideal location to service the needs of the Caribbean, South America, and the rest of the world with abundant, clean-burning American natural gas. This will not only mean good paying jobs regionally but increased economic benefits for our state economy as well.”