House Foreign Affairs Committee Takes Up LNG Export Issue

One day after lawmakers in both houses of Congress debated the merits of liquefied natural gas exports (LNG), the House Committee on Foreign Affairs took up the issue on Wednesday, reasoning that exports are an intricate part of the discussion over the geopolitical potential of the energy boom in the United States. However, testimony from a panel of experts indicated the impact of U.S. LNG exports may be overstated and their effect on domestic natural gas prices unknown.

In his opening remarks, committee chairman Rep. Ed Royce (R-CA) derided the Department of Energy (DOE) as "government at a glacial pace" for approving only seven applications to export LNG.

"While the United States recently became the world’s largest producer of natural gas, Russia is still the biggest exporter," Royce said. "That is because while [Russian President Vladimir] Putin is freely selling oil and gas freely around the world, we impose major impediments to exporting our energy. That is a lost opportunity."

Read the full article on NGI's Daily Gas Price Index.