U.S. LNG Export Study Released

Date: WASHINGTON (Reuters)
The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas (LNG) exports on Tuesday, highlighting the need for caution regarding new permits.

In January, President Biden paused the Department of Energy's approvals for U.S. LNG exports to major consumers in Asia and Europe, initiating the review process that has drawn criticism from the oil and gas industry.

The study warned that increasing LNG exports could significantly elevate greenhouse gas emissions and potentially lead to higher prices for U.S. energy consumers, as explained by U.S. Energy Secretary Jennifer Granholm in a letter summarizing the findings.

Granholm emphasized that a business-as-usual approach to LNG export permitting is neither sustainable nor advisable.

In contrast, incoming President Donald Trump, a climate skeptic and strong proponent of fossil fuel development, has pledged to lift the moratorium on new LNG export permits upon his return to the White House in January.