Unleashing U.S. LNG to bolster security, economy Image By EPN Staff U.S. energy exports – specifically liquefied natural gas (LNG) – have surged following the Department of Energy’s rollback of a Biden-era pause on projects. Taiwan has inked a $44 billion deal with Alaska Gasline Development Corporation to ship 20 million tons of LNG via a new pipeline potentially beginning in 2030. Korea and Japan may follow suit. And the DOE has issued a permit to LNG producer Venture Global for an export project proposed in Louisiana dubbed “CP2.” It’s the fifth such project greenlighted by the new administration. The uptick of these projects comes following the elimination of President Joe Biden's “pause” on LNG exports in January 2024, purportedly to examine their impact on energy costs and the environment. Why it matters The non-partisan Atlantic Council has opined that LNG exports will offset US trade deficits, create about 500,000 jobs by 2040, and provide Europe with reliable and stable energy. The National Association of Manufacturers further estimates that LNG exports will add $122.5 billion to the Gross Domestic Product, $59 billion in labor income, and $26.9 billion in tax and royalty payments by 2044. How it works LNG is natural gas cooled to a liquified state, making it easier to ship to places where pipelines can’t reach. It is then warmed to a gaseous state and can be used for various purposes, including heating, cooking and generating electricity. The bigger picture Exports of U.S. LNG began to accelerate under the first Trump Administration. Last year, Biden put a halt to export approvals. “This pause on new LNG approvals sees the climate crisis for what it is: the existential threat of our time,” the White House statement read. Environmental groups applauded the former president’s action. The pause continued despite a federal judge overruling the presidential action in July 2024. And in December 2024, during the White House transition, the DOE released a report concluding LNG exports contribute to higher energy costs and greenhouse gas emissions. Yet multiple news agencies have recently reported the Biden administration buried a study that indicated LNG exports had little impact on costs and emissions. First reported by the Daily Caller and later confirmed by Bloomberg, the September 2023 report said “emissions did not change significantly between scenarios in response to varying LNG export levels.” Trump reversed the pause as part of his Day One agenda. The international energy industry had decried Biden’s pause, noting its harm to European interests as the region transitions from coal, substitutes for Russian gas and navigates growing energy demand.
