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The US will no longer impose a 7-year export deadline for LNG projects, as set by Biden

The U.S. will rescind on Wednesday a policy that was issued by the former administration of President Joe Biden, which required liquefied gas projects, or LNG, to export within seven year of receiving approval.

The LNG industry pushed President Donald Trump's administration to reverse the April 2023 policy statement of the Biden administration on Department of Energy approvals of exports to major markets in Europe, Asia and Africa because many projects require more than seven years to complete.

They have stated that if the projects are forced to restart their applications, it could cause delays in LNG exports.

The Federal Register will publish a document on Wednesday that states, "From now on, DOE will review applications to extend the export start deadline of an authorized holder and grant extensions for good reason shown, on a case by case basis. This is consistent with DOE’s prior practice before the Policy Statement was issued."

The Energy Department didn't immediately respond to an inquiry for comment.

Fred Hutchison is the President and CEO of LNG Allies a trade association. He called the previous policy on deadlines inflexible, and that the new policy was a return to normal order.

Hutchison stated, "We are thankful that common sense has been restored to the U.S. LNG Export Process." (Reporting and Editing by Margueritachoy)

(source: Reuters)