U.S Energy Department Approves Two New LNG Projects for Increasing Exports

U.S Energy Department Approves Two New LNG Projects for Increasing ExportsConstruction of two facilities that would export natural gas got a green signal from the U. S. regulators. This decision will pave way for exports of natural gas to lucrative markets like Europe and some parts of Asia including Japan and Taiwan.

The terminals for liquefied natural gas (LNG) export will be constructed in Louisiana and Florida.

The permits were awarded to a subsidiary of Sempra Energy, Cameron. It will manage the Louisiana facility. The permit for the facility in Florida which is a smear one has been awarded to Carib Energy. This move is a big milestone to be achieved by the industry. These are the second and the third plants that have received approval for exporting LNG to countries which do not have an agreement for free trade with the U. S.

The time is right for the export approvals that came from the Energy Department as fracking in various locations of Pennsylvania, Ohio and Texas has led to an energy boom in the U. S which has caused in a price dip. The growing natural gas productions called for exports to counties where the prices are better.

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