Former Exxon chairman casts doubt on LNG exports

“It’s going to be a little while before people are really confident that there is going to be a sufficient amount of gas for 30 years to support the construction of an LNG plant.”

Bloomberg reports:

Politic constraints and concern production gains at shale fields aren’t sustainable will hinder the development of liquefied natural gas export plants in the U.S., former Exxon Mobil Corp. chief Lee Raymond said.

“There is going to be a big debate in the U.S. as to whether or not they’re going to permit the export of liquefied natural gas,” Raymond said in an interview in Oslo yesterday. “Even if you get past the politics, you have to test whether or not the resource base is sufficient”…

“It’s going to be a little while before people are really confident that there is going to be a sufficient amount of gas for 30 years to support the construction of an LNG plant,” said Raymond, who stepped down in 2005. “I’m frankly not sure that we have enough experience with shale gas to make the kind of judgment you’d have to make.”

Read the entire report.

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