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43 Infrastructure 1 (2003-2004)

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KF                                                  Vol. 43, No. 1, Fall 2003
325

The
return of
liquefied
natural
By Michael R. Waler
n the 1970s, when
there were fears that
the United States
would run out of natural
gas, several major pipeline
Jcompanies looked to lique-
fied natural gas (LNG) as a
major supplement to
domestic gas supplies.
However, by the mid-
1980s, because of changes
in federal law regulating
the price of natural gas,
domestic production of
natural gas rose significantly and prices fell, causing liquefied natural gas to be
priced out of most U.S. energy markets.
The Federal Energy Regulatory Commission's restructuring of the natural gas
industry, effectively eliminating the interstate pipelines from
the gas supply segment and limiting their operations to trans-
portation, caused various interstate pipelines to abandon
LNG projects then on the drawing boards.
Today, the balance between U.S. gas supplies and demand
for gas has tightened and there is a real need for supplemen-
tal gas supplies from sources outside the North American
continent and its continental shelf. In order for gas produced
on other continents and in far-flung parts of the globe
beyond the reach of pipelines to be
Michael Waler                                 continued on page 5
Waller is with LeBoeuf, Lamb, Greene & MacRae, L.L.P, in Houston. His e-mail is
michael. waller@LLGM.com.

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