Cheniere Energy Inc. (LNG:US) praised the U.S. government’s approach to evaluating proposals for natural gas exports as the company moved ahead with plans to expand its shipping terminal at Sabine Pass in Louisiana.
President Barack Obama’s administration has done a “very good job” dealing with the complicated matter of exporting liquefied natural gas, known as LNG, Cheniere Chief Executive Officer Charif Souki told reporters at the IHS CERAWeek energy conference in Houston today.
Sabine Pass is the only project so far to obtain full U.S. approval for an LNG export terminal outside of Alaska.
“We have clearly a lot of supply and not enough demand,” Souki said. “They’ve been very measured with the steps they’ve taken, but they’re not at all being obstructionist.”
The U.S. has started to increase its presence on the global market to reassure potential investors and buyers that “logical” results will come out of the process, he said. The number of export terminals approved will depend on how many parties put in the time and money needed to make their projects a success, he said.
Cheniere has said its proposed gas export facility at Sabine Pass may start up in 2015, with possibly six units operating there in the future. The company also proposes to export gas from a facility near Corpus Christi, Texas.
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