LNG developers push Biden for faster export permits, seeking to take advantage of European market

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- LNG companies along the Gulf Coast are rushing to sign long-term gas contracts in Europe, where natural gas prices are at record highs.

Paul Marsden, left, President of Bechtel Energy, left, talks Tuesday, Oct. 4, 2022, with Jack Fusco, President and CEO of Cheniere Energy, during a groundbreaking ceremony for an expansion project at the Chenerie’s Corpus Christi-area liquefied natural gas facility.But the length of time it takes for the Department of Energy to grant export approval to Europe and nations with whom the United States does not have free trade agreements is putting those deals at risk, LNG companies say.

At least some projects are being “slow walked,” Elhy said. The holdup comes at a time the Biden administration is under increasing pressure to put a halt on expanding LNG exports by large industrial companies worried about rising domestic gas prices and environmentalists campaigning to reduce greenhouse gas emissions., which filed an application in 2020 to export an additional 1.9 billion cubic feet per day.

The Department of Energy did not respond to a request for comment. But in recent months the Biden administration has moved to speed approvals, to match President Joe Biden’s pledge earlier this year to increase LNG exports to Europe, Elhy said. The rush to get export permits approved comes as large industrial and petrochemical companies are making the case to the Biden administration that increased LNG exports are in part responsible for rising natural gas prices.averaged $6.71 per million British Thermal Units through the first nine months of the yearAt an event hosted by the Industrial Energy Consumers of America last month, economist Clark Williams-Derry argued that U.S.

 

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