Today U.S. Senator Ted Cruz (R-Texas) announced the Natural Gas Export Expansion Act. The act will eliminate the current arduous process that discourages liquefied natural gas trade according to a statement from the office of Senator Ted Cruz. The act will increase LNG exports by facilitating permits to non-Free Trade Agreement (FTA) countries according to the statement.
Specifically, the Natural Gas Export Expansion Act proposes
• Amend the Natural Gas Act to expedite non-FTA export permits. By doing so, applications to export LNG to certain non-Free Trade Agreement countries are treated the same as free trade countries and "deemed to be consistent with the public interest."
• Retain current law for restricted nations. Any nation subject to sanctions or trade restrictions is specifically excluded, and the President or Congress can specifically exclude any nation from expedited approval.
"The United States is reaping the rewards of the American energy renaissance as the world's top petroleum and natural gas producer, and Texas leads the nation in output," Sen. Cruz said. "While the new Administration has taken a number of positive steps to remove federal impediments to energy exploration, development, and trade, Congress must also do its part to continue advancing America's energy renaissance. Expedited LNG exports will strengthen our position against current and potential foes of America, and benefit our friends and allies around the world, while driving down energy costs at home. Right now, this is particularly important to families across Texas and the nation, as they budget for travel and gasoline costs for their summer vacations."
Full text of Sen. Cruz's Natural Gas Export Expansion Act may be viewed here .