by Daniel J. Graeber
Washington (UPI) Jun 27, 2017
The Trump administration sees the ability to export liquefied natural gas as a way to enhance U.S. influence on the global stage, a spokesman said.
Asked during a regular press briefing about the meaning of U.S. energy dominance, White House spokesman Sean Spicer singled out the ability to export liquefied natural gas.
"Take LNG, for example," he said. "I think our ability to now export it is a big issue."
Cheniere Energy Inc., which operates the only facility in the country with the permits necessary to export LNG from domestic basins, commenced a sales agreement this week with Korea Gas Corp. Korea has a free-trade agreement with the United States, though a special LNG export permit is needed for countries that don't.
U.S. President Donald Trump is seen as a protectionist on trade. He backed out of the 12-nation Trans-Pacific Partnership trade agreement during his first week in office, though the Commerce Department in May included LNG shipments to China as part of a 100-day action plan.
The Trump administration has been critical of its European counterparts, Germany in particular, on trade. Poland, however, received a batch of LNG from this United States in early June, even though there are no U.S. free-trade deals in place in the region.
Former U.S. Vice President Joe Biden lauded natural gas as a strategic asset during a tour of Eastern Europe last year. Several U.S. allies in the region rely heavily on Russia for natural gas.
Without mentioning the United States in particular, Cecilia Malmstrom, the trade commissioner for the European Union, said trade barriers were problematic for the regional economy.
"We clearly see that the scourge of protectionism is on the rise," she said in a statement.
Spicer hinted that more action would come from the Trump administration on energy issues later this week.
"He'll have some action that he's going to be taking on behalf of the administration to move forward our dominance, our independence, our ability to maximize our natural resources and create jobs," the spokesman said.
Trump has put oil in particular at the forefront of his economic agenda, signing off early in his administration on the Dakota Access and Keystone XL oil pipelines. Spicer made no reference to oil exports, for which a 40-year old ban was lifted by former President Barack Obama.
West Texas Intermediate, the U.S. benchmark for the price of oil, is trading at a discount relative to Dubai, a Middle East benchmark, which means U.S. oil is competitive in some markets.
The four-week moving average for net U.S. crude oil exports for the week ending June 16 was 775,000 barrels per day, up 58.4 percent from the previous year.
Washington (UPI) Jun 26, 2017
A gas company from Korea, one of the largest buyers of liquefied natural gas in the world, said it commenced a sales agreement with a U.S. supplier. The Korea Gas Corp. commenced a 20-year sales and purchase agreement with Cheniere Energy Inc., which operators the only facility in the United States with the permits necessary to export super-cooled LNG. "This is just the beginning ... read more
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|