Jordan Cove LNG project may become import/export terminal

Jordan Cove LNG project may become import/export terminal
COOS BAY, ORE. - Backers of the proposed Jordan Cove LNG Import Terminal in Coos Bay, are seeing renewed hope in the project after serious consideration is given to the idea of exporting natural gas.

The Oregonian Newspaper reports, terminal managers are considering converting the project into a dual-use terminal, as economics could allow US producers to double or triple their net by exporting to Asia rather than selling domestically.

Senator Ron Wyden has come out in opposition of the idea, saying he's concerned exporting natural gas will benefit gas companies at the expense of the American consumer.

A gas industry consultant acknowledges there would be some price increases, but says the main advantage would be to stabilize gas prices at a higher level and encourage more shale production.

He goes onto say, increased supplies would keep a lid on prices, while improving the US balance of payments and creating jobs.

Asian demand is expected to increase, driven by economic growth in China and India, switching from coal to natural gas.