Donald Trump’s plan to ramp up liquefied natural gas exports could provide a $1.3tn boost to the US economy, with the oil and gas industry poised to get the green light to build new export facilities and pipelines on the Gulf of Mexico.
The forecast from S&P Global is based on expectations the industry will double LNG export capacity over the next five years, as the president-elect follows through with a pledge to lift a pause on approvals, expedite new export terminals and turbocharge the industry.
“We already have large contracts in place with major LNG suppliers and we certainly expect to get more of that,” said Alan Armstrong, chief executive of Williams, one of the largest gas pipeline companies in the US.
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