Federal regulators approve new liquified natural gas projects in Texas
Liquified Natural Gas refueling station at Big Blue Bus Terminal. Photo: Citizen of the Planet/Education Images/Universal Images Group via Getty Images
The Federal Energy Regulatory Commission Thursday approved three liquefied natural gas export projects in Texas and also green-lit the expansion of a fourth existing operation.
Why it matters: The sign-offs are the latest step in the continuing expansion of U.S. export projects that are tapping into huge domestic supplies and backed by successive administrations.
But, but, but: Bloomberg, which notes the projects would roughly double current U.S. export capacity, reports on "doubts" that they will actually be built. The piece describes the headwinds in the LNG market:
"The nation is already sending more gas overseas than ever as shale output surges. But prices have collapsed amid the U.S.-China trade war and a worldwide glut of the heating and power-plant fuel, making buyers increasingly unwilling to sign the long-term contracts needed to develop multibillion-dollar terminals."
Worth noting: FERC approved six other new projects earlier this year.