IN A MOVE THAT COULD SIGNIFICANTLY SHAKE UP THE GLOBAL LNG MARKET, THE US DEPARTMENT OF ENERGY RECENTLY ANNOUNCED SEVERAL DEVELOPMENTS REGARDING NATURAL GAS EXPORTS, INCLUDING A PROPOSED RULE CHANGE FOR REVIEWING APPLICATIONS FOR EXPORTS TO COUNTRIES THAT DO NOT HAVE A FREE TRADE AGREEMENT WITH THE US, THE NON-FTA COUNTRIES.
The proposed change would suspend the current practice of issuing conditional export authorisations. Instead, only those applicants with completed National Environmental Policy Act (NEPA) reviews would proceed to a final analysis by DOE of whether the export is in the “public interest”. Since 2011, DOE has issued seven conditional approvals for liquefied natural gas (LNG) exports to non-FTA (free trade agreement) countries, only one of which has completed its NEPA review and received DOE’s final export approval.
According to DOE, the intent behind the change – announced in late May – is to focus and prioritise departmental resources by addressing those projects further along in their commercial development, and to improve the quality of information for its public interest analysis...
Originally published in Project Finance International on July 2 2014.
Please see full article below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.