US looking like 'sweet spot' in global shale development. Despite evidence that extensive natural gas shale formations exist around the world, energy companies are continuing to develop US-based LNG export terminals. On Sept. 11, 2013, the US Department of Energy (DOE) conditionally approved Dominion Resources' Cove Point terminal for the export of LNG to countries that are not party to free trade agreements with the US. The Cove Point facility is the fourth LNG export project to earn DOE approval, joining BG Group and Energy Transfer Partners' Lake Charles facility, Cheniere Energy's Sabine Pass facility, and Freeport LNG's facility. These four projects, as well as 20 other not-yet-approved applicants, are hoping to profit from the US shale gas boom by exporting gas to sell at the considerably higher natural gas prices found in Europe and Asia.
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