On January 26, U.S. President Joe Biden issued a decree announcing a temporary pause in issuing licenses to approve new liquefied natural gas (LNG) export projects from the United States. The suspension applies to the authorization of exports to countries with which the US does not have a free trade agreement (FTA).
The US Department of Energy plans to update the previous analysis underlying the issuance of permits. The last revision of LNG export projects occurred in 2018 when US LNG exports amounted to 4 bcm/d compared to almost 12 bcm/d in 2023. This event is temporary and will not affect the overall trend in the development of the US LNG industry.
In December 2023, US LNG exports reached monthly and annual record highs, making the US the largest LNG exporter in 2023. The White House assured its allies of its unwavering support to avoid potential turbulence in the industry.
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