• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 3 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 4 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 5 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 6 days Demonising fossil fuels has caused major grid problem in Australia
  • 5 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 7 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 332 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
Social Backlash Is Wreaking Havoc On Ecuador’s Oil Industry

Social Backlash Is Wreaking Havoc On Ecuador’s Oil Industry

Ecuador’s already-struggling oil industry is…

Department Of Energy Extends LNG Export Terms

The U.S. Department of Energy has extended the export terms for seven LNG license until 2050 for projects currently under construction or pending the start of construction.

The extensions include the Golden Pass terminal in Texas, the Brownsville project, also in Texas, as well as the Delfin, Driftwood, and Magnolia projects in Louisiana. The Costa Azul project in Mexico, led by Sempra Energy, was also included in the extensions.

“The success story of U.S. LNG continues to be written, and these extended authorizations will ensure that the benefits from these exports continue for decades to come,” said U.S. Secretary of Energy Dan Brouillette. “The United States just set a new all-time high record for LNG exports in November 2020, and the monthly rate of LNG exports has now quintupled since the beginning of the Trump Administration.”

Liquefied natural gas has become a major growth area for U.S. energy exporters, although the U.S.-China trade war and the pandemic have interfered with ambitious plans for leadership in the space.

U.S. LNG shipments to China fell to zero in the 12 months to March this year, and a lot of shipments to other destinations were canceled after the pandemic ravaged demand. Now, however, exports of LNG to China are set to start growing once again in the next few years. Cheniere Energy alone signed a deal to supply 26 LNG cargos to Chinese Foran Energy Group over the next five years.

Europe is another growth market for U.S. LNG exports, although emissions-related ambitions by the EU are threatening this potential growth due to concerns about the emissions related to producing the natural gas from fracked wells.

“It is important for DOE to do everything to assure a long-term future for U.S. LNG exports, which will continue to meet global energy security and emissions reduction goals,” said Acting Under Secretary of Energy and Assistant Secretary of Fossil Energy Steven Winberg, in comments on the extension of export terms.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News