OPINION:
U.S. policies are ushering in a surge of growth for American-made energy, and we’re beginning to see the results as companies thrive.
Venture Global recently commenced commercial operations at its first liquefied natural gas export facility, Calcasieu Pass, delivering on long-term contracts. The company also announced that its second facility, Plaquemines, is consistently producing LNG from the project’s operating liquefaction trains at 140% of nameplate capacity, a record feat as the facility continues to start up additional liquefaction trains.
In short, LNG production, a crucial resource for our allies overseas, will triple at the Plaquemines facility this year. This aligns with the Trump administration’s goal to expand U.S. LNG exports and equalize our trade balance with the rest of the world. The administration’s lifting of the Biden-era freeze on new LNG export permits is moving us toward its energy goals.
Plaquemines is just one of several LNG developments roaring into action in this pro-energy climate. After getting the green light from the Federal Energy Regulatory Commission, Cheniere Energy is on track to expand its plant in Texas. Meanwhile, the commission has given Energy Transfer’s Lake Charles LNG project a three-year extension to its permit.
Venture Global is moving toward a final investment decision on its third LNG export project in Louisiana, CP2, after the Federal Energy Regulatory Commission completed its environmental analysis. The commission found no emissions impact and recommended that the project move forward. Its vote to green light the Full Order for CP2 provides yet another win.
With CP2 coming online, Venture Global is expected to become the largest LNG exporter in America and a key exporter to Europe, helping offset reliance on Russian gas. The company said it has a number of other long-term contracts that could be announced sooner rather than later.
The message is clear: If the federal government allows for it, a lot more LNG will come from the U.S., and it’s about time. With China going through an LNG boom, America must be competitive to avoid falling behind. Thankfully, the current administration seems to understand and is acting accordingly.
The administration is providing additional backing for LNG projects, including with an LNG Center of Excellence to facilitate research, training and development.
Energy companies are thriving in Trump 2.0, which also benefits their employees by promoting growth and millions of dollars in tax revenue. It also benefits all of America, as the administration leads the way on securing energy independence, a critical part of our economic and national security strategies.
If the U.S. can promote its LNG, it can also fill a void across the Atlantic. Europe has continued concerns about energy security as it attempts to move away from Russian energy during the ongoing war in Ukraine. Although the future of the war is unclear, one thing is known: Europe will need more U.S. energy.
With Washington’s new outlook, energy companies and the U.S. more broadly have a bright future. We can only hope that the administration and Congress continue on this pro-energy, pro-America path.
• Guy Caruso is a senior adviser in the Energy Security and Climate Change Program at the Center for Strategic and International Studies. He was administrator of the U.S. Energy Information Administration from 2002 to 2008. He has also worked as an international energy economist in the CIA Office of Economic Research.
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