U.S. Welcomes USTDA Grants for European LNG Projects

We welcome the recent signings of U.S. Trade and Development Agency (USTDA) grants to help develop Liquefied Natural Gas (LNG) import terminals in Lithuania and Romania. LNG will allow both countries to benefit from a global gas market. Much of the world’s gas continues to be transported through stationary pipelines, following fixed routes and serving fixed markets. By encouraging the development of LNG, USTDA helps foster a world market for natural gas.

Liquefied Natural Gas is part of a secure global energy future. It will allow gas to be traded as a true commodity, eliminating today’s inflexible long-term contracts and prices artificially linked to the price of oil. LNG would put an end to Lithuania and Romania’s reliance on a sole source of imported gas, help develop a regional gas market, and promote energy security. LNG benefits consumers as well, allowing supply to flow rapidly and efficiently to the areas with the most demand, and in turn promoting competition and equitable pricing. We applaud Romania and Lithuania for their vision in pursuing LNG, and the U.S. Trade and Development Agency for supporting this vision.

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