• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 11 mins Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 1 hour Tesla Launches Faster Third Generation Supercharger
  • 24 mins Passerby doused with flammable liquid and set on fire by peaceful protesters
  • 4 mins Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 10 hours EU has already lost the Trump vs. EU Trade War
  • 12 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 13 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 8 hours China's Renewables Boom Hits the Wall
  • 7 hours Climate Change Consensus Shifts in Wind, But Gas Is Still the Right Move
  • 17 hours Iran's Master Plan?
  • 16 hours Iran Finds New Oil Field With Over 50 Billion Barrels: Rouhani
  • 15 hours Saudi Aramco IPO Will Not Save Kingdom

Breaking News:

Oil Rebounds On Surprise Crude Draw

Senators Push for Expedited LNG Approval

Senators Mary Landrieu (D-LA) and Lisa Murkowski (R-AK) are pushing for an overhaul of how LNG export applications are reviewed in order to prioritize projects that are commercially viable. The top Democrat and Republican on the Senate Energy Committee argue that the Department of Energy’s approach to evaluating export permits doesn’t make sense. Since 2012, DOE has reviewed LNG export applications in the order that they are received. Sens. Landrieu and Murkowski are arguing for a different approach. “Should you go by the way the order is presented or who is most likely not only to get financing but also siting?” Chairman Mary Landrieu spoke to reporters after a Tuesday hearing on the issue. “There are several steps to this process of siting and financing and actually building these terminals.”

Export terminals must also receive permit approvals from the Federal Energy Regulatory Commission, but the FERC process is much more involved than DOE’s. It requires millions of dollars and environmental assessments. Therefore, DOE should reform its process to expedite the applications of projects that have lined up financing and are actually commercially viable, according to a new Brookings proposal authored by David Goldwyn, a former special envoy for international energy affairs at the State Department. Under Goldwyn’s plan, projects that have received FERC approval would jump to the top of the pile for DOE’s consideration. “If you just let projects which have cleared FERC and have a formal FERC application go to the head of the line, you’d be accelerating projects which are not just licenses to market but which are projects which are already commercially mature,” Goldwyn said.

Related Article: US Green Lights 7th LNG Export Project

Meanwhile, President Obama spoke on March 26 in response to EU pressure to accelerate U.S. LNG exports. He said that if the U.S. and the EU can finalize a free-trade deal, LNG exports to Europe would be included in such a deal. “Once we have a trade agreement in place, export licenses for projects — for liquefied natural gas destined to Europe — would be much easier, something that's obviously relevant in today's geopolitical climate,” he said.

By Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play