Texas Economy Set To Benefit From Natural Gas Boom

Texas is poised to benefit immensely from the natural gas boom as a dredging process is currently under way which will see bigger ships docking in the Port of Houston. Demands for LNG in the U.S is relatively low and so drilling companies are seeking to convert the excess commodity into much needed income by exporting it. However, for this to happen, companies will have to receive permits from the Department of Energy.

Former import terminals are now being converted into export terminals in expectation of the permits for exporting the commodity on a wide scale. So far only five companies have received permits to export LNG. The granting of permits can take years and there are many more companies on the waiting list for approval. This means that the country is losing out on potential earnings during the lengthy approval process.

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