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LNG export opportunities for US flag vessels

LNG Industry,


Congressman John Garamendi, Ranking Member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, introduced a new bill to strengthen the US maritime industry. H.R. 5270, the Growing American Shipping Act, will modernise existing laws by reviewing LNG export opportunities.

Existing law, written before the shale gas revolution when it was conceived that the US would be an importer of LNG, authorises the Secretary of Transportation to develop and implement a programme to promote the transportation of imported LNG on US-flag vessels. Under the Deepwater Ports Act, the Secretary is also required to give top priority to the processing of licenses for LNG import facilities that will utilise US-flag vessels.

H.R. 5270 would update these laws by authorising the Secretary of Transportation to develop and implement a programme to promote the export of LNG on US flag vessels, and requiring the Secretary to give priority processing of export applications for deepwater port terminals that would utilise US-flag vessels.

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Ranking Member Garamendi said: “In order for businesses to grow, they must identify new opportunities and seize them. The export market for LNG, a strategic national asset, is ready to take off. At the same time, our nation’s maritime industry has been declining for years. Our nation must take the bull by the horns. When it is deemed appropriate to export LNG, it should be on American-flagged vessels.”

The Subcommittee’s Chairman, Congressman Duncan Hunter joined the legislation as an original cosponsor. Chairman Hunter said: “A strong US maritime industry is essential to the national economy and global security. This legislation will help strengthen this industry by promoting LNG export opportunities on US flag vessels, which is most certainly in the national interest.”

Click here to access the bill.


Adapted from press release by Ted Monroe

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31072014/bill-introduced-on-lng-export-opportunities-for-us-flag-vessels/


 

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