WASHINGTON (Reuters) – The U.S. is slated on Wednesday to rescind a policy issued by the administration of former President Joe Biden that requires liquefied natural gas, or LNG, projects to export within seven years of getting approvals.
The LNG industry had pushed the administration of President Donald Trump to rescind the policy statement issued by the Biden administration in April 2023 on Department of Energy approvals for exports to big markets in Europe and Asia because several projects need more time than the seven years for completion.
If the projects were forced to restart applications it could lead to delays in LNG exports, they have said.
“Henceforth, DOE will consider applications to extend an authorization holder’s export commencement deadline and grant such extensions for good cause shown on a case-by-case basis, an approach consistent with DOE’s practice prior to the issuance of the Policy Statement,” said a document slated to be published in the Federal Register on Wednesday.
The Energy Department did not immediately respond to a request for comment.
Fred Hutchison, the president and CEO of LNG Allies, a trade group, called the previous deadline policy inflexible and said the new policy marked a return to regular order.
“We are grateful that a commonsense approach has returned to the U.S. LNG export process,” Hutchison said.
(Reporting by Timothy Gardner; Editing by Marguerita Choy)
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