Liquefied Natural Gas: Hearing to Consider Market Developments for U.S. Natural Gas, Including the Approval Process and Potential for Liquefied Natural Gas Exports

Liquefied Natural Gas: Hearing to Consider Market Developments for U.S. Natural Gas, Including the Approval Process and Potential for Liquefied Natural Gas Exports

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There are 2 main objectives of our hearing today. First, it’s important to understand that laws and regulations that govern LNG exports were put into place assuming the United States would be an importing country, not an exporting country. Therefore it probably makes sense to take a new look at them in light of the new market situation. The second purpose of the hearing, is to understand how exports might affect the domestic natural gas market. The implications of increased gas exports for U.S. job creation and balanced payments could be very positive. At the same time I note that U.S. Energy security requires reliable and affordable energy prices, not just reliable supplies. Therefore, understanding how exports might affect domestic prices is also critical.