The good news just keeps on coming for Texas commercial entrepreneurs and established business principals.
And it is preceded by myriad ongoing reports underscoring the state’s seemingly bullet-proof economy and continuous expansion across multiple growth sectors.
We referenced the glass-half-full (and steadily filling) nature of Texas’ widely varied commercial sphere in a recent Blazier, Christensen, Browder & Virr blog post. We noted in the firm’s December 2 entry that many factors render Texas “synonymous with business opportunity and growth.” Our post emphasized the state’s unquestioned “top-tier status” in categories spanning virtually every type of economic activity.
Including, centrally, natural resources and gas/oil exploration.
Indeed, that sphere is spotlighted in recent news focused upon the state’s huge reserves of liquefied natural gas. Texas is a global leader in LNG production and exports.
And, reportedly, its robust global position will soon be even further strengthened by a huge industry expansion within the state. The Federal Energy Regulatory Commission just recently gave approval for the creation of four new South Texas LNG export terminals. The benefits accruing from that go-ahead nod are expected to be many and varied. Upsides could include these positives:
- $45 billion – and perhaps more – in investment
- Job creation marked by many thousands of new positions
- Project returns that will enrich communities across the state
- Texas’ sharp rise as a preeminent global LNG hub
The currently estimated production capacity of LNG in the United States is about 46 million tons. Full operation of the four new terminals could spike that by nearly 100%.
Construction is currently pending, with various matters being worked out concerning issues ranging from financing to accommodations reached with environmental groups.