USLNG Pause following COP28

US LNG Export Approval Pause Sends ‘Devastating Signal’ (Gasworld)

Dominic Ellis (Jan. 26): President Biden’s decision to halt approvals for new USLNG export facilities has been labeled ‘devastating’ for international relations and the industry. This move, following COP28’s commitment to transition away from fossil fuels, aims to scrutinize the impacts of USLNG exports on energy costs, energy security, and the environment.

Despite the administration maintaining that the pause is temporary and necessary, the decision has sparked a debate among stakeholders. Many have expressed concerns about the potential impact on the global energy market and the United States’ role as a leading exporter. Others meanwhile applauded the decision as an important step to avoid getting “locked into decades of fossil fuel use and climate-warming emissions.”

With roughly half of all USLNG exports going to Europe last year, leadership assures that the decision will not impact supplies to allies in the near term. Despite this, the pause duration remains uncertain, with some hoping for a swift resolution while others prepare for a longer wait. The administration also noted that the pause could be lifted for any unanticipated and immediate national security emergencies if necessary. Link to Content