Cheyenne, WY (KGWN) - Governor Mead unveiled a report today showing Wyoming is well positioned to be a leader in developing a liquefied natural gas (LNG) industry for high horsepower uses.
Since Governor Matt Mead took office in January of 2011, he's made it a point to maximize the use of Wyoming's natural resources.
"One of the things I really wanted to accomplish was an energy strategy. An energy strategy is energy, economy and environment," Mead said.
Mead went out and partnered with Gladstein, Neandross & Associates (GNA), to provide an "LNG road map" about the feasibility, potential, costs and benefits of using liquefied natural gas.
"Liquefied natural gas gives our customers who are currently use diesel to power their engines the ability to reduce costs of ownership. Abundantly domestically produced natural gas offers lower fuel costs and reduced emissions," said Richard Wheeler, President & CEO of Wyoming Machinery Co.
Wyoming is the third leading producer of natural gas and the use of LNG as a supplement to diesel fuel in Wyoming's high horsepower sectors such as mining, drilling and over-the-road trucking.
"It's a 300 to 400 million dollar investment as best we can tell to really get this going here in the state, but that will create about 5,000 really good, high paying, high tech jobs," said Erik Neandross, CEO of GNA
According to GNA, the investment could return 160 to 170 million dollars in fuel cost savings for Wyoming based businesses.
"It's an opportunity for coal companies to lower their fuel costs and also use a product that we have in abundance in Wyoming," Mead said.