Congressman Ted Poe has reintroduced H.R. 428, the Export American Natural Gas Act of 2015.
The bipartisan bill would expedite the Department of Energy (DOE) approval process for LNG exports. Poe first introduced the bill in the 113th Congress.
Recent studies, including those commissioned by the DOE, indicate a net economic gain if the DOE allowed more LNG exports. In order for US companies to export LNG, companies have to obtain approval from both the DOE and the Federal Energy Regulatory Commission (FERC).
However, the DOE has long stalled the approval of applications to export LNG. These delays have resulted in lost business for American companies and lost resources for allies who need an alternative source of energy. This bill requires a firm deadline of 60 days for the DOE to make a decision to either approve or deny applications. If the DOE does not meet the 60-day deadline, the applications would automatically be approved.
Commenting on the legislation, Poe said: "It is time to remove bureaucratic roadblocks and take the Department of Energy out of the approval process for natural gas exports. Unnecessary red tape is the only thing standing in the way of the US exporting a resource that it has an abundant supply of, natural gas.
“Exporting natural gas would grow our economy, create thousands of new jobs and help many of our allies around the world. From an energy security and foreign policy perspective, this is a no brainer. Washington should be supporting, not stonewalling, the development and exportation of this valuable, domestic resource."
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26012015/poe-introduces-lng-exports-bill-110/