Cassidy Introduces LNG Now Act to Remove Unnecessary Restrictions on LNG Exports
WASHINGTON – Today, US Senator Bill Cassidy, MD (R-LA) introduced the License Natural Gas (LNG) Now Act to remove barriers placed on US exporters so they can quickly access the market and meet the global demand of natural gas. This legislation would revamp the current system put in place by the Department of Energy decades ago and establish market growth of US exports without any delays.
“The previous administration created hurdles that stalled LNG projects that benefit the economy, environment and Louisiana workers.” said Dr. Cassidy. “This legislation adds certainty to the approval process and brings investment, and better-paying jobs, to Louisiana.”
Under the act, the US would have the opportunity to meet the anticipated 4 to 5 percent of the annual LNG global demand growth. The administration would also retain the ability to limit natural gas importation and exportation levels during emergencies, disasters or exchanges with particular foreign nations.
The following organizations have publicly endorsed this legislation:
· American Petroleum Institute
· Center for Liquefied Natural Gas
· G2 LNG
· LNG Allies
· Natural Gas Supply Association
“I want to thank Senator Cassidy for introducing the ‘LNG Now Act of 2017.’ This legislation will streamline and focus the permitting process of exporting LNG from the United States. It also signals to potential customers and global investors alike that the U.S. government strongly supports the development of this abundant, cleaner, greener, lower-cost natural resource. Thousands of jobs and millions of new tax revenues to local, state and federal governments stand to be created. The State of Louisiana is at the forefront of this exciting opportunity, which includes G2 LNG in Cameron Parish. With the help of the ‘LNG Now Act of 2017,’ we stand ready to play an important role in the energy and economic security of our country for decades to come.” – Thomas H. Hudson, CEO of G2 LNG
“The Center for Liquefied Natural Gas welcomes any measures of support or creation of opportunity for U.S. LNG. The U.S. LNG industry is in the midst of a critical opportunity that would cement the U.S. as a global energy superpower and certainty is key. We commend Senator Cassidy for his efforts and for his support of LNG and look forward to working with him in the future on this legislation and other LNG related issues.” – Charlie Riedl, Executive Director of the Center for Liquefied Natural Gas
“The Natural Gas Supply Association is pleased to work with Senator Cassidy in growing opportunities for US natural gas both domestically and abroad. Opportunities for certainty in every aspect of natural gas policy are always beneficial for both producers and consumers and we look forward to working with policymakers to ensure a legislative and regulatory framework that works for industry, the consumer, and the public at large.” – Dena Wiggins, President and CEO of the Natural Gas Supply Association
“LNG Allies, a trade association of U.S. liquefied natural gas (LNG) exporters, commends Sen. Bill Cassidy for introducing the LNG Now Act of 2017 and reframing the congressional discussion about what a modernized LNG exports legal framework should look like. While the United States has a strong and transparent regulatory process for the approval of LNG export terminals, there is no question that this process is expensive and time-consuming. Thus, LNG Allies supports measures—such as Sen. Cassidy’s bill—that would lessen the time and expense of securing LNG project authorizations.” – LNG Allies
The United States has been exporting natural gas for nearly 100 years. Not until the energy revolution of the last decade has the idea of the United States becoming a net exporter seemed plausible. The United States has the least expensive natural gas in the world. The EIA estimates there is 2,474 trillion cubic feet of technically recoverable natural gas, enough to last an estimated 93 years in the United States. With the growth of the U.S. LNG market, the United States has the opportunity to fill the expected 4-5% annual LNG global demand growth in coming years. Unfortunately, several projects have been forced to wait years. One recent project waited 1,642 days, as their export permits stalled at the Department of Energy. The LNG Now Act would ensure that needless delays never happen again.
The LNG Now Act would achieve the following:
To read the full text, click here.
Next Article Previous Article