SOURCE: Zeus Development Corporation

Zeus Development Corporation

December 07, 2011 14:43 ET

LNG Exports From Northern America: 'When,' Not 'If,' Zeus Conference Concludes

HOUSTON, TX--(Marketwire - Dec 7, 2011) - Nearly a hundred executives converged in Houston, Dec. 1, to discuss the prospects for exporting LNG from North America. Eleven prospective projects were reviewed, including Cheniere Energy's Sabine Pass bidirectional plans on the U.S. Gulf Coast, the Apache-led Kitimat LNG on the West Coast of British Columbia, Dominion's Cove Point bidirectional proposal on the U.S. East Coast, and Leucadia National Corp's Oregon LNG proposal at the mouth of Columbia River.

"These projects provided an excellent representation of efforts by the North American industry to improve access to world gas markets," said Bob Nimocks, president of Zeus Development Corporation and host of the event. "This trend is confirmation of how natural gas has become the fuel for this century and how well positioned the United States and Canada are to lead it."

The conference concluded that few showstoppers will prevent North America from transitioning from a net gas importer to exporter. While the U.S. Department of Energy has delayed authorizations of new export permits until two studies to examine the cumulative impact of exports on domestic prices can be concluded, speakers at the conference reviewed such an abundance of reserves that few believed DOE would find a reason to impede export efforts.

The latest estimates for technically recoverable natural gas in the United States exceed 2.5 quadrillion cubic feet. This is more than double the US Geological Survey estimate of 1.1 quadrillion cubic feet in 1995. Canadian gas producers, which depend on U.S. markets, are especially hard hit by the U.S. surplus. Recent shale gas discoveries in Northeast British Columbia have pushed technically recoverable reserves from just three basins -- Horn River, Montney and Cordova -- to more than 1.0 quadrillion cubic feet. Five LNG export projects are now proposed along British Columbia's West Coast.

Further north, the State of Alaska also has grown more serious about LNG now that plans to build a transcontinental pipeline to the Lower 48 have been scrapped. Several possible Alaskan sites are being discussed. If existing import terminals from Manzanillo, Mex. to Nova Scotia are included, the number of possible sites for export terminals rises to more than 20.

Conference presentations, including an 8-page summary of the conference conclusions, are available at or can be ordered by phone at 1-888-478-3282.

Contact Information