Huntsman opposes unlimited US LNG exports – CEO

22 January 2013 14:03  [Source: ICIS news]

HOUSTON (ICIS)--Huntsman is opposed to unlimited US exports of liquefied natural gas (LNG) and has joined a trade group that advocates against such exports, the CEO of the US-based chemicals producer said on Tuesday.

We think it very short-sighted and bad public policy to allow our nation's natural gas advantage to be stripped and sent overseas to build a new manufacturing base that would otherwise be built here in the US,” CEO Peter Huntsman said.

Completely unfettered US exports may enrich a few LNG exporters in the short term, but real, sustained and broad-based growth in the US economy will come from a balanced approach that considers the needs of American manufacturers and consumers, and ensures that natural gas can be exported without undermining this emerging sunrise for American manufacturing and all the supporting industries and services,” Huntsman said.

Huntsman added that his company is among the many chemical firms planning to expand operations in the US in light of the stable, lower-cost natural gas market brought on by the country's shale gas developments.

Huntsman recently committed more than $150m (€113m) in capital to new projects in the US and the company is evaluating additional US projects worth about $250m more.

The trade group Huntsman joined is America’s Energy Advantage, whose members already include chemical producers Dow Chemical, Celanese and Eastman, among others.

Last week, Dow Chemical said it had decided to withdraw its membership from the National Association of Manufacturers (NAM) because it disagrees with the organisation’s position on US exports of natural gas.

($1 = €0.75)

Additional reporting by Tracy Dang

By: Stefan Baumgarten
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