Oil and gas executives strongly pushed back against the U.S. pause on new LNG exports during the CERAWeek energy conference in Houston.
Energy Secretary Jennifer Granholm indicated this week that a pause on U.S. liquid natural gas exports from new projects would be lifted within a year.
U.S. exports have provided European allies with energy security as they seek to end their dependence on Russian gas in the wake of Moscow's invasion of Ukraine. Industry executives argue LNG will play a key role in the energy transition by displacing coal for electricity generation. The 48 Bcf/d of currently authorized LNG is three times the current export capacity of the U.S., according to theOil and gas executives and Republican senators, however, were unmoved by Granholm's remarks, arguing the pause would shake confidence among investors evaluating new projects, rattle allies who depend on U.S. LNG and potentially undermine the transition to cleaner energy sources.
Baker Hughes CEO Lorenzo Simonelli indicated the U.S. could fall behind its competitors if the pause goes on longer than eight to 12 months because international projects will simply move forward. Qatar, one of the world's top LNG exporters, is planning a
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