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Federal Reserve Chairman Alan Greenspan last Tuesday said he believes the wave of liquefied natural gas (LNG) imports destined for the United States will dampen gas prices, “possibly significantly,” in the years ahead.

Federal Reserve Chairman Alan Greenspan on Tuesday said he believes the wave of liquefied natural gas (LNG) imports destined for the United States will dampen gas prices, “possibly significantly,” in the years ahead.

Calling the period that the energy markets are entering a “dramatically new phase,” Alan Levine, senior vice president of the Morgan Stanley Private Client Futures Group, said higher natural gas prices — mainly above $6 — are likely here to stay.

Calling the period that the energy markets are entering a “dramatically new phase,” Alan Levine, senior vice president of the Morgan Stanley Private Client Futures Group, said higher natural gas prices — mainly above $6 — are likely here to stay.

Federal Reserve Chairman Alan Greenspan last Thursday appeared to have altered his message on liquefied natural gas (LNG) in his second appearance before Congress in less than a month, saying the United States should look to LNG primarily as a secondary, peak-shaving fuel when domestic gas sources fall short of demand.

Federal Reserve Chairman Alan Greenspan on Thursday fine-tuned his message on liquefied natural gas (LNG) in his second appearance before Congress in less than a month, saying that the United States at a minimum ought to have a “standby LNG system” in place to lessen price volatility in the domestic gas market. But he signaled that the nation should work in the longer term to eliminate it as a back-up by producing “far more” domestic gas supplies.

Federal Reserve Board Chairman Alan Greenspan will be waving his red flag on natural gas supply issues again on July 10 in front of the Senate Energy and Natural Resources Committee. Three weeks ago Greenspan told a House panel that if the United States wants to maintain its current standard of living, it will have to become a bigger player in the global gas market by importing more liquefied natural gas (LNG).

Federal Reserve Board Chairman Alan Greenspan will be waving his red flag on natural gas supply issues again on July 10 in front of the Senate Energy and Natural Resources Committee. Three weeks ago Greenspan told a House panel that if the United States wants to maintain its current standard of living, it will have to become a bigger player in the global gas market by importing more liquefied natural gas (LNG).

Following closely on the heels of Federal Reserve Chairman Alan Greenspan’s pro-LNG testimony before a House panel, Cheniere Energy Inc. said that it has closed the formation of its partnership with BPU LNG, an affiliate of Sherwin Alumina, to build an LNG receiving facility on a site adjacent to the Sherwin Alumina plant in Corpus Christi, TX. The partnership was first announced in mid-May (see NGI, May 19).