Americas News
Garamendi says LNG is a "Huge Opportunity" for U.S. Maritime Industry
A U.S. official says liquefied natural gas (LNG) is a "huge opportunity" for the nation's maritime industry but that government policies should make sure gains from the industry go to U.S. companies and workers, news site LNG Industry reports.
"If we're going to export LNG, then it must be done on American-made ships with American mariners," said U.S. Representative John Garamendi, ranking member of the House Coast Guard and Maritime Transportation Subcommittee.
Garamendi said up to 100 new ships may be needed to export natural gas from six U.S. ports.
He added that the nation should work to support its shipbuilding industry, which he called "a fundamental asset."
"However, today we are on a trajectory to lose the ability to [build] ships," he said.
Garamendi said U.S. shipyards are dependent on U.S. Navy orders.
"But, by combining two of the strategic resources this nation still has – natural gas and shipbuilders – we can rebuild and strengthen and keep the American maritime industry in relatively better shape," he said.
Navigator Holdings Ltd. [NYSE: NVGS] (Navigator) announced last month that it had exercised options with a Chinese shipyard for three LNG carriers in anticipation of increased exports from the U.S.
