Unused oil rigs sit in the Gulf of Mexico near Port Fourchon, Louisiana in this August 11, 2010 file photo. REUTERS/Lee Celano/Files
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NEW YORK: The shale fracking revolution in the U.S. oil and gas industry has achieved a milestone: the first export of liquefied natural gas from the country outside of Alaska.In 2008 Cheniere was still banking on the opposite strategy of gas imports.That has made Cheniere the first company to export LNG from the so-called "lower 48" states of the continental U.S. Exports have flowed from Alaska to Japan for several years.According to Glickman, the cost differential between U.S. and European natural gas explains the rush toward U.S. gas exports projects.For companies like Cheniere transforming natural gas into LNG for export, low gas prices help keep down operating costs.
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