Fri. Mar 1st, 2024

Joe Biden puts the brakes on for the export of liquefied natural gas

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The United States is the world's largest exporter of LNG. According to the White House, American LNG exports are expected to double by the end of the decade.

  • Laurence Taschereau (Consult the profile)Laurence Taschereau

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The President of the United States will suspend approval of new liquefied natural gas (LNG) export terminals in a bid to combat climate change.

In a statement from the White House, Joe Biden does not beat around the bush: Climate change is an existential threat of our time and we must act with all the urgency required to protect the world. #x27;future of future generations.

This is why on Friday, the American president announced a temporary suspension of exports to countries that do not have a free trade agreement, such as China and India.

In his statement, the president justifies his decision by the fact that the criteria for obtaining LNG export authorizations are about five years old and that they no longer take sufficient account of considerations such as #x27;impact of greenhouse gas emissions.

The president also cites economic considerations such as the potential increase in energy costs. #x27;energy for American consumers and manufacturers.

In Calgary, the Canadian energy industry says it is dismayed by the American president's decision. Southeast Asia, India and China are among the new potential markets for the Canadian Association of Petroleum Producers (CAPP), we can read on its website.

< p class="StyledBodyHtmlParagraph-sc-48221190-4 hnvfyV">The United States is the largest exporter of LNG in the world, explains CAPP, while Canada does not yet have its own export capacity .

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