US DOE agrees to extend LNG export licenses to 2050 in boost for developers

摘要

The US Department of Energy has made final a new policy of extending LNG export authorizations through 2050 upon request by project developers. The action was cheered by US LNG trade groups as helpful amid fierce international competition for buyers. It comes as a spate of newly approved projects have struggled to secure long-term contracts and financing amid challenging market conditions including demand taking a hammering from the impact of the coronavirus pandemic. Charles Riedl, executive director of the Center for LNG, said the extension gave developers and international buyers of US LNG greater certainty and was an important tool in boosting US players' global competitiveness.