Reese Energy Consulting today is studying the latest romances developing between gas suppliers and the LNG industry. Okla. City-based Chesapeake, which operates in the Marcellus and Haynesville, said yesterday the company might consider a stake in an LNG terminal. Then, there’s EQT.
Not two years into his role as CEO of the nation’s largest producer of natural gas, Toby Rice has grabbed the bullhorn on behalf of American LNG with a battle cry that’s gaining a lot of attention. With his business firmly tucked inside the world’s biggest natural gas resource, Rice and Pa.-based EQT have launched Unleash U.S. LNG—a plan that puts natural gas front and center to replace coal across the globe. Describing his plan as “the largest green initiative on the planet,” Rice advocates quadrupling American LNG capacity to 55 BCFD by 2030 and targeting international coal emissions. This scenario, he proposes, would reduce carbon emissions by an incremental 1.1 billion mtpy while helping Europe with a long-term solution to offset Russia supplies.
The hitch to the pitch? More needed infrastructure and a lot less red tape to lead the world in solving both the energy and climate crises at the same time.