Industry perspective

Testimony of former Federal Reserve chairman Alan Greenspan

"Access to world natural gas supplies will require a major expansion of LNG terminal import capacity and development of the newer offshore regasification technologies. Without the flexibility such facilities will impart, imbalances in supply and demand must inevitably engender price volatility.

As the technology of LNG liquefaction and shipping has improved, and as safety considerations have lessened, a major expansion of U.S. import capability appears to be under way. These movements bode well for widespread natural gas availability in North America in the years ahead."

Natural gas supply
Before the Committee on Energy and Natural Resources, U.S. Senate
July 10, 2003