North American Natural Gas Seeks Markets Overseas
A slew of multibillion-dollar coastal projects compete to ship super-chilled LNG to Asia and Europe.
Mar 21, 2014 1:10 PM ET
North America's natural gas boom is now so big that the industry and its supporters believe it should not be contained to just one continent.
They argue this new bounty should be shared—especially with hungry markets in Asia and Europe willing to pay a high price for the fuel. But long-distance transport of natural gas is one of the world's most expensive engineering feats, and it will require government approvals, community support, and billions of dollars in capital to take North American gas overseas. (See related quiz: What You Don't Know About Natural Gas.)
Despite the challenges, proposals are now moving forward to make the Chesapeake Bay waterfront community of Cove Point, Maryland, into a global gateway for Pennsylvania shale gas, and to turn the remote British Columbia coastal village of Kitimat into an international energy hub.