Markets are impatiently awaiting a decision from the White House that could see the ban on new LNG export projects lifted
as the Biden administration seeks leverage in winning Republican approval for an extensive aid package to Ukraine, Reuters reports. Late on Tuesday, Reuters reported that the White House was considering a reversal of its late January decision to pause new LNG export projects, with two anonymous White House sources saying that lifting the ban could be rewarded with Congressional approval for new aid to Ukraine in its conflict with Russia.
The Biden administration paused permit approvals for new LNG export projects in January citing uncertainty about the outlook for U.S. supply from the late 2020s onwards. Last year, the U.S. overtook Qatar to become the world’s largest LNG exporter. Now, Qatar is stepping up investment and development, eyeing an 85% increase in its LNG export capacity by 2030 as it seeks to dominate the market.
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