USA: new LNG act to remove exports restrictions

US senator for Louisiana Bill Cassidy moved to expedite the US exporters access to the market with a License Natural Gas (LNG) Now Act. 

The motion aims 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, a statement by Bill Cassidy said.

“The previous administration created hurdles that stalled LNG projects that benefit the economy, environment and Louisiana workers.” Cassidy.

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 act would also guarantee acceptance of export volume applications to the Department of Energy for export and import of natural gas without delay.