Obama Administration Approves More Natural Gas Exports
Has a big backlog of companies looking to sell abroad
The Obama administration on Wednesday approved natural gas exports from a third U.S. facility as the government works through a long backlog of projects seeking permission to send gas abroad.
The export terminal in Lake Charles, Louisiana, secured a conditional license from the Department of Energy to ship liquefied natural gas to all countries. The terminal is backed by BG Group Plc and Energy Transfer Partners LP's Southern Union Co.
The department's order gives the Lake Charles terminal permission to export up to 2 billion cubic feet of natural gas a day for 20 years. The approval is contingent upon the Lake Charles terminal receiving a permit from the Federal Energy Regulatory Commission for construction of the facility.