Progressive legislative actions and bold statements from the Trump Administration are some of the various indicators that seem to strongly suggest the United States of America is favourably considering the construction and heavy reliance of the newly developed LNG export facility. The concept of building an LNG exporting terminal was initially proposed by energy companies in Texas, Qatar Petroleum and Exxon Mobil Corp. According to economic and infrastructural experts, the program would create up to 45,000 job opportunities for Americans during the construction and perhaps even more after the export facility got to business.
After its proposal, government agencies went on to study the ripple effects that such a project would have on the American people wholesomely. Factors considered were the sustainability of the business model, the eco-effect it would consequently bear on the people, the economic and social implications as well as how such a huge program would affect America’s economic and political influence in the global community. After objective prosecutions of the Exxon Mobil Corp. and Qatar Petroleum endorsement, various regulatory hurdles facing the construction of a robust LNG exporting terminal were lifted one by one in a systematic fashion.
The process of approval and legislative support was initiated by the topmost ranked economic adviser of the President Donald Trump’s Administration, First Gary Cohn. He was the first to speak favourably of the government’s plan to build a terminal in the Northwest region of the U.S. He asserted that they, the administration, would multiple tankers filled with LNG to Asia. He then claimed that the project would not only bring jobs to the American people and an enormous influx of foreign currency to the economy, but it would also strengthen America’s political vantage over its allies and enemies. Energy Secretary Rick Perry soon after seconded First Gary Cohn’s statements shortly after having approved the shipping project in the same day.
Other state agencies obligated to partake in the legislative backing of the project had done so prior to the action by the energy department leaving the endeavour with only one major hurdle to overcome, financing. Such financing, according to Anastacia Dialynas, depended on investment decisions taken by the owners. One of the means by which the LNG exporters had resulted to and are still pursuing is financing by commitments from buyers. Such financial commitment would, if enough, would afford the construction. Such an achievement would still benefit the customers who would be treated to a global oversupply.
Unfortunately, though there 24 applications to build the LNG export terminals under review, with the Golden Pass terminal already cleared to export a lump sum capacity of gas, other exporters are yet to be approved. Unfortunately, Federal Energy Regulatory Commission lacks a voting quorum to approve them. It is waiting on President Trump to add a third member to reach the quorum that has been much awaited.