Biden’s decision on LNG terminals could undermine confidence in the industry – Kommersant
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Oil and gas company Shell CEO Wael Sawan said US President Joe Biden’s decision to suspend new contracts for the construction of new liquefied natural gas (LNG) export terminals could undermine confidence in the industry. Mr. Biden’s decisions were also criticized by other companies.
“I don’t think the administration’s recent announcement will necessarily impact LNG supplies in the short or medium term, but I do think it undermines confidence in the long term,” Wael Sawan told the newspaper. Financial Times.
He added that the decision of the American president is in line with the actions of Venture Global, with which Shell was suing over failure to fulfill contractual obligations. According to Mr. Sawan, this raises questions about the stability and safety of LNG from the United States.
ExxonMobil said the suspension of new contracts could harm efforts to move countries away from coal. The energy company Chevron also criticized Joe Biden’s decision.
The Financial Times writes that the decision to suspend the issuance of permits for the construction of LNG export plants is associated with an attempt by the Joe Biden administration before the election to gain the support of voters who are concerned about climate change. According to Shell’s CEO, demand for LNG will continue to grow as some countries use it as they transition away from coal.
Read about LNG exports in Russia in the Kommersant article. “Russian LNG has slowed down”.
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