Issue 113 – Ryan Sitton, Railroad Commissioner
Introduction...Amazing new opportunity could push the U.S., especially Texas, into to the forefront of global natural gas industry, says Texas Railroad Commissioner Ryan Sitton.
The opportunity…Commissioner Sitton said Texas can produce a massive quantity of natural gas. However, the real bottleneck between the state and regions where natural gas demand is in ocean-going shipping.
“Natural gas is an opportunity to take the world by storm,” said Sitton, who was speaking at the Sept. 21 Gulf Coast Industry Forum. “But in order to do that, there’s one big thing we have to do — we have to be able to get it to those markets.”
The growing demand in thriving energy economies is a global opportunity for Texas. New tankers and coastal facilities that can handle this new volume of additional natural gas will give Texas the chance to take the lead in this market.
“This is something that will affect our state and our nation for a generation,” Sitton said.
Texas natural gas exports today…Texas has experienced an explosive growth in natural gas exports. According to the U.S. Energy Information Administration, Texas exported 257.16 billion cubic feet in 2010. In 2015, the latest year data is available, Texas exported 845.95 billion cubic feet of natural gas. That’s a 70% increase in Texas exports in just five years.
In conclusion…While Texas has seen a 70% increase in export of natural gas, according to Railroad Commissioner Ryan Sitton, the amazing global growth opportunity is just ahead if we provide the infrastructure.
We are taking advantage of a similar opportunity in another state where this demand is being addressed. Click here for more details.
Reference: Joshua Mann, “Texas oil and gas regulator: This is where the new action will come from,” Houston Business Journal, 25 September 2017