El Paso Official: LNG Imports to Encourage Pipeline and Storage Investment
Posted on May 23, 2007 in Markets and Competition, Storage | Comments Off on El Paso Official: LNG Imports to Encourage Pipeline and Storage Investment
El Paso vice president Patrick Johnson, speaking at the 6th Annual Platts LNG Conference, predicted that LNG imports would encourage investment in pipeline and storage capacity in the lower 48 states. Citing a trend of diminishing Canadian exports and the increasing costs of the Mackenzie and Alaska pipeline proposals, Johnson suggested that the best way to make up the supply shortfall would be through LNG imports. Because Europe will likely outbid the U.S. market for winter cargos, summer cargos increasingly will be used to fill available storage capacity in the United States. Platts LNG Daily provides further coverage. [Subscription required]