Cumulative impact from U.S. LNG to be up to $1.267 trillion
The report, conducted by ICF, used the most current U.S. Energy Information Administration (EIA) data based on three cases in their 2018 Annual Energy Outlook (AEO) released in February 2018.
The three cases include the Reference Case, the High Oil & Gas Case, and the High Oil Price Case.
Key findings from the new ICF study include the direct, indirect, and induced value added from 2013 to 2050 for the 3 AEO cases:
- The cumulative economic impact from LNG plants will range from $716 billion to $1.267 trillion.
- LNG plants would support 2 million to 3.9 million job-years.
- Considering the whole value chain (LNG and natural gas supply) the cumulative economic benefits from US LNG exports would range from $1.664 trillion to $3.255 trillion and 7.346 to 15.459 million job-years.
"U.S. LNG exports are driving the transformation of the international gas trade to an increasingly well-connected global market," said LNG Allies President & CEO Fred H. Hutchison.
He added, "This updated report shows LNG exports also provide important economic benefits to the United States, by stimulating job creation, increased economic activity, and tax revenues." ■