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Petrogress, Inc.'s (PGAS) Texas Operations Get Underway as U.S. Eyes Number Three Spot in Global LNG Exports

Feb 14, 2018 (NetworkNewsWire via COMTEX) --

  • U.S. heading for number three spot in global LNG exports
  • PGAS to leverage shipping expertise to enter U.S. LNG export market
  • PGAS operates crude oil tanker fleet in Mediterranean and West Africa

Now that the U.S. has copped the number one spot in global natural gas production, the country is moving quickly to join the frontrunners in global LNG exports. A feature in the Houston Chronicle (http://nnw.fm/yBda2), citing U.S. Department of Energy data, 'projects that LNG production capacity will quadruple by the end of 2019, making the (U.S.) the largest source of LNG after Qatar and Australia.' Much of the exported LNG will leave the U.S. from Texas, where Petrogress, Inc. (OTC: PGAS) has widened its international footprint by establishing a subsidiary. The company plans to leverage its expertise in oil transportation and shipping, gained in the tough Mediterranean and West African markets, to gain a competitive advantage as the U.S. heads for global dominance in the natural gas market.

Through its Texas subsidiary, Petrogress Oil & Gas Energy Inc., PGAS is poised to capitalize on the seismic shifts transforming the natural gas industry in the U.S. Just a few years ago, the country was heavily reliant on imports of natural gas and was expected to remain that way for the near future. However, the shale revolution reversed that prospect, and the U.S. dispatched...

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