LNG legislation aims to expedite approval process for entry into overseas markets
The 2017 National Defense Authorization Act was passed by the House of Representatives last week, providing key approvals in a long pursuit of export opportunities for American liquified natural gas (LNG) to European markets.
It has been nearly three years since the Energy and Commerce Committee began its campaign for LNG export approvals. Beginning with information produced in a forum on “Geopolitical Implications and Mutual Benefits of U.S. LNG Exports” in October 2013 and a report on the global benefits of exporting American LNG four months later, a series of four bills was passed in the years that followed, two of which failed to advance in the Senate. Efforts by Committee Chairman Fred Upton (R-MI) have for years been concentrated on advancing LNG legislation at every available opportunity, and last week’s bill marks a considerable victory for the committee.
“Hopefully the fifth time passing the House is the charm for LNG exports,” Upton said. “When it comes to jobs and the economy, we have to take advantage of every legislative opportunity. We saw an opening in the Defense Authorization to advance LNG exports, and I’m pleased the finish line is in sight.”
The committee said that it hopes that the passing of the bill will aid in the removal of the red tape that has prevented U.S. LNG from competing with Russian supplies on foreign markets.
