Natural gas exports will create thousands of jobs, says Sen. Landrieu
U.S. Sen. Mary L. Landrieu, D-La., chair of the Senate Committee on Energy and Natural Resources, held a hearing this week on how increasing exports of liquefied natural gas (LNG) will create thousands of high-paying jobs, support U.S. allies abroad, and potential reduce Russia’s energy influence in Europe. The hearing, titled “Importing Energy, Exporting Jobs — Can it be reversed?,” was Landrieu’s first as chair of the committee.
“Thanks to extraordinary and swift advances in technology to locate, capture and produce natural gas, this committee will discuss the expanded opportunities to export LNG, the possibilities to create high-paying jobs in America and support our allies in Europe and budding democracies across the world,” Landrieu said. “The last thing [Russian President Vladimir] Putin and his cronies want is competition from the United States of America in the energy race.”
Last week, Russia sanctioned nine U.S. officials, denying them entry into Russia because they hold views in opposition to Russia’s actions against the Ukraine. Sen. Landrieu was among the nine sanctioned officials.
In his testimony before the committee this week, Dr. David Montgomery, senior vice president of NERA Economic Consulting, stated that LNG exports from the U.S. could reduce Russia’s stranglehold on energy supplies to Europe. Immediate announcement of a policy of allowing unlimited LNG exports would signal potential competition that Russia would have to meet by offering lower natural gas prices as it renegotiates its supply contracts with Europe.
Landrieu also touts the importance of creating high paying jobs by increasing LNG production and exportation in the U.S.
A 2013 study by David Dismukes at LSU found that by 2019 more than 200,000 jobs will be created by new unconventional energy production in Louisiana alone. A recent LSU report estimated that from 2012 – 2018, approximately $47 billion of private sector investment will be made in new and existing plants and projects in Louisiana. That investment is expected to create more than 37,000 new, high-paying jobs.
“Nowhere is this more evident than in my home state of Louisiana and all along the Gulf Coast – America’s energy coast,” Landrieu said. “The oil and gas industry supports over 300,000 jobs in Louisiana, and has been a major factor in securing below average unemployment for the last five years.”
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.