HOUSTON – The United States should not flip-flop on its gas export policy, Hess CEO John Hess said on Tuesday.
U.S. President Joe Biden’s administration has hit pause on permits for new liquefied natural gas (LNG) export plants to ensure projects do not undermine U.S. targets to cut greenhouse gas emissions.
“Consumers have to rely on the United States for the important role we play as an exporter of oil and gas, and we can’t flip flop our policy,” Hess said. “I think it sends a very disturbing message to put this pause on LNG.”
Europe has increased imports of LNG from the United States to substitute gas imports from Russia in the wake of Russia’s invasion of Ukraine.
The pause on LNG plant permits is unfriendly for both the market and climate, Hess said, because gas is being used to substitute coal in power generation around the world.
(Reporting by Sabrina Valle; Editing by Simon Webb and Chizu Nomiyama)
Lead image (Credit: Reuters)
