Unlocking our Domestic LNG Potential Act of 2023

Unlocking our Domestic LNG Potential Act of 2023

This bill repeals certain restrictions on the import and export of natural gas under the Natural Gas Act, including restrictions related to free trade agreements.

In addition, the bill grants the Federal Energy Regulatory Commission the exclusive authority to approve or deny applications for the siting, construction, expansion, or operation of facilities (e.g., liquefied natural gas terminals) to export natural gas to foreign countries or import natural gas from foreign countries.

Bill 118 hr 1130, also known as the Unlocking our Domestic LNG Potential Act of 2023, aims to promote the development and export of liquefied natural gas (LNG) in the United States. The bill seeks to streamline the permitting process for LNG export facilities, increase transparency and accountability in the approval process, and encourage investment in LNG infrastructure.

One of the key provisions of the bill is the establishment of a timeline for the approval of LNG export applications, ensuring that the process is efficient and timely. The bill also requires the Secretary of Energy to conduct a study on the economic and environmental impacts of LNG exports, providing valuable information for policymakers and stakeholders.

Additionally, the bill includes measures to promote the use of LNG as a cleaner alternative to traditional fuels, such as diesel and gasoline. This includes incentives for the development of LNG refueling infrastructure and the expansion of LNG use in the transportation sector. Overall, the Unlocking our Domestic LNG Potential Act of 2023 aims to boost the domestic LNG industry, create jobs, and enhance energy security in the United States. It represents a bipartisan effort to harness the country's natural gas resources and leverage them for economic growth and environmental sustainability.