US congressman Clay Higgins introduced H.R. 336, a bill aiming to enable the United States LNG export players to access the market quicker.
Senator Bill Cassidy is sponsoring the License Natural Gas Now Act, which is the Senate version of the bill, a statement by congressman Higgins reads.
“The United States is on the cusp of becoming a net exporter for the first time in history, and natural gas is leading the way,” Higgins said.
The LNG Now Act aims to revamp the current system created by the Department of Energy (DOE), guaranteeing acceptance of export volume applications and establishing market growth of U.S. exports without burdensome delays, according to the statement.
“The previous administration created hurdles that stalled LNG projects that benefit the economy, environment and Louisiana workers,” senator Cassidy said, adding that “this legislation adds certainty to the approval process and brings investment and better-paying jobs to Louisiana.”
The U.S. Energy Information Administration (EIA) estimates there are 2,474 trillion cubic feet of technically recoverable natural gas 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 percent annual LNG global demand growth in coming years.
The bill preserves the Federal Energy Regulatory Commission LNG export facility process and the administration’s ability to limit net trade during national emergencies or as sanctions against nations unfriendly to the United States.