HOUSTON, TX — (Marketwire) — 03/05/12 — In the news release, “33 Sites Contenders for North American LNG Export, Zeus Survey Finds,” issued earlier today by Zeus Development Corporation, we are advised by the company that the first sentence of the third paragraph should read “The Potential Gas Committee of the Colorado School of Mines” rather than “The American Gas Association–s Potential Gas Committee” as originally issued. Complete corrected text follows.
HOUSTON, TX — March 5, 2012 — LNG industry analyst Zeus Development Corporation has identified 33 sites in the United States, Canada, and Mexico that hold possible competitive advantages for developers of LNG export terminals. Sixteen would offer access to Pacific trade routes to Asian markets without having to transit the Panama or Suez Canal. The remaining are on the East Coast or along the Gulf of Mexico.
“North America–s natural gas landscape has changed so radically in the past five years that many sites once considered for import terminals now offer advantages as export plants,” Bob Nimocks, president of Zeus, said. “Former liquefaction and export sites such as the once-proposed Yukon Pacific near Valdez, Alaska, might offer advantages as well.”
The Potential Gas Committee of the Colorado School of Mines estimates that the United States has nearly two quadrillion cubic feet of undiscovered gas in its last assessment, the highest in the committee–s 46 year history. Canada and Mexico also are believed to hold vast undiscovered reserves. British Columbia alone is estimated to contain 1.1 quadrillion cubic feet of natural gas, enough to supply 20 world-scale export plants for more than a hundred years.
In recent months, natural gas in North America has traded for as little as $2.50 per million Btu while Asian gas prices have exceeded $15/MMBtu. Yet, U.S. export projects are being delayed by government regulators, opening an opportunity for Canada and Mexico.
“Canada and Mexico are part of the North American pipeline network,” Nimocks observed. “With the North American Free Trade Agreement, gas flows freely across the borders, predominantly from north to south.”
Fifteen pipelines connect Mexico to the United States. The country increased its imports of U.S. natural gas by 50 percent last year. Domestic production has also been climbing with successes in Mexican gas field development. The Zeus survey has identified eight potential LNG export sites in the country.
In total, the 33 sites represent a potential export capacity of 300 million tonnes, which would more than double world LNG trade. Each represents more than 1,000 construction jobs and investments of more than $5 billion in new infrastructure and equipment.
The survey can be purchased and downloaded at .
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Amy Nussmeier
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