U.S. Liquefied Natural Gas Exports Gain Momentum

The Federal Department of Energy has now green-lighted a second and third facility for the overseas export of American liquefied natural gas (LNG), confirming a trend that began with the 2012 approval of shipments from Cheniere Energy’s Sabine Pass project, now nearing completion along the Louisiana-Texas border. The two new approvals mean that Sempra Energy can now proceed with its $10 billion Cameron LNG project in Southwestern Louisiana and Carib Energy, LLC will be able to transport LNG to the Caribbean and Central American countries from a facility in Marin County, Florida.

Instead of importing LNG into the U.S. as was once planned, the oil and gas boom has now inspired a reversal of fortune for producers, terminal-owners and shippers, causing a deluge of proposals to send American gas abroad to buyers in Europe and Asia.With three facilities getting the nod, the government has now fully approved up to 3.94 billion cubic feet per day in liquefied natural gas exports. That’s a lot of LNG.