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A driver fills up a truck with liquid natural gas. Photo: J. Emilio Flores via Getty Images

A company planning to export liquefied natural gas from the Gulf Coast will warn lawmakers this morning that surging U.S. gas production could become "stranded" absent bigger investment in pipeline and LNG infrastructure.

On the record: In testimony prepared for a House Natural Resources Committee hearing today on the geopolitics of LNG, Tellurian president Meg Gentle says the government plays a key role in both laying the infrastructure groundwork for exports and offering a supportive and efficient regulatory environment.

"The U.S. clearly enjoys many advantages, but our valuable supply stands at risk of being left behind if we don’t build infrastructure now."
Tellurian president Meg Gentle

By the numbers: Gentle says her company plans to invest $29 billion in infrastructure. But, she says more is needed — an estimated $170 billion is required in initial investments industry-wide.

Why you'll hear about this again: The U.S. is poised to become a key player in global LNG markets. Exports from the Gulf Coast that began in 2016 with Cheniere Energy helped the U.S. recently become a net gas exporter.

  • Pipeline exports are currently much larger. But the Energy Information Administration's long-term forecast shows LNG increasingly dominating the nation's gas trade.

Shell's global warning: In a report yesterday, Shell points out that final investment commitments in LNG projects worldwide have stalled since 2015. And, this creates the risk of a supply-demand gap opening in the mid-2020s.

  • The problem, Shell says, is a "mismatch" — customers want shorter and smaller contracts, but that does not bring the kind of certainty that supports investment commitments for massive new supply projects.

Go deeper: CNBC breaks down Shell's analysis here.

Go deeper

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.