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VIRGINIA INTERNATIONAL GATEWAY EXPANSION EVENT

REMARKS PREPARED FOR

MARK H. BUZBY

MARITIME ADMINISTRATOR

VIRGINIA INTERNATIONAL GATEWAY EXPANSION EVENT

TUESDAY, JULY 23, 2019 - 2:00 PM

Thank you, John [Reinard]. Good afternoon.

It's great to be here with you to celebrate the Virginia International Gateway's completed expansion. This is a welcome development for American maritime and - as a local resident - it's great to see this investment in our community.

Having recently returned from a visit to South Korea, I can tell you our economic competitors understand the importance of investing in maritime infrastructure. They know, as many of us do, that it's a tremendous boost for our economy and for trade. That's a message more Americans need to hear - a message we're working hard to spread at the Maritime Administration.

America has always been a maritime nation; it must continue to be if we're to maintain our role as the leading economic power and military power. The ability to control our own commerce and to project power globally are the hallmarks of our superpower status. That status rests on the strength of U.S. maritime. That is why you see our global competitors and rivals making enormous investments in their own maritime industries.

The $320 million invested in the Virginia International Gateway is a vital part of strengthening U.S. maritime. The focus here on liquefied natural gas and LNG bunkering specifically shows you've got your eyes on the future. As America is now a net exporter of LNG, and as vessels make the switch to this cleaner-burning fuel, this will provide an important advantage to the Port.

I want to thank John and everyone at the Port for a making this forward-looking investment in this region. Thank you.

Updated: Tuesday, August 20, 2019