The US Government has decided to pause all pending approvals of exports from new LNG projects in the country. The US Department of Energy (DOE) will conduct a review during the pause that will assess the economic and environmental impacts of projects seeking approval to export LNG to Europe and Asia. The review is expected to last several months and then will be open to public comment. The move could potentially delay final investment decisions (FIDs) on new facilities until the end of 2024, after the US presidential elections in November.
Several projects are expected to take FIDs this year. The Texas-based company Energy Transfer is planning to take an FID this year to build its Lake Charles LNG export facility in Louisiana, depending on the export approval by the DOE, while Commonwealth LNG also aims to take an FID in 2024 on its 9.3 Mt/year LNG facility under development in Cameron, Louisiana. In addition, Glenfarne Group’s Texas LNG also announced it would take an FID this year for its planned 4 Mt/year LNG export terminal in the port of Brownsville (Texas), as the company just secured the final permits needed for the project.
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