By Curtis Williams

HOUSTON (Reuters) – Three companies developing liquefied natural gas (LNG) projects in Texas and Louisiana said they would go full speed ahead with their plans after President Donald Trump lifted the previous administration’s freeze on those export permit.

Trump’s executive order effectively reinstates a freeze on permits for new projects that former President Joe Biden put in place until early 2024 to study the environmental and economic impacts of developing countries. export industry.

Trump’s decision could pave the way for nearly 100 million metric tons per year (MTPA) of additional LNG by 2031 through more advanced projects, further cementing the US as the world’s largest LNG exporter. world.

“We remain full speed ahead with our current and future expansion projects and are confident that we will obtain all necessary regulatory approvals,” said Director of Communications at Cheniere Energy (NYSE:) Bernardo Fallas.

Leading US LNG exporter Cheniere Energy is awaiting an export license for its 3 MTPA midscale 8 and 9 expansion project in Texas.

Commonwealth LNG, which has waited longer than any other company for its permit, wants to build a 9.5 MTPA export plant in Louisiana to sell to countries without a free trade agreement with the US, said Trump’s decision for public welfare. .

The company is “focused on building a world-class LNG export facility,” a spokesman said.

Energy Transfer (NYSE:) also welcomed the decision. It has an export license for its 15.5 MTPA facility in Louisiana but needs a new permit after the Department of Energy refused to extend its license due to delays in completing construction.

“We expect the Department of Energy to move quickly forward with permitting new LNG export facilities including our Lake Charles LNG export facility,” said company spokeswoman Vicki Pomegranate.

Six more plants will gain financial sustainability in the first two years of the Trump administration, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group.

The Biden administration’s study found that US natural gas supplies are sufficient to meet domestic demand for gasoline and global demand for US LNG. But in an unrestricted LNG export scenario, domestic gas prices would rise 31% by 2050, it found, raising natural gas bills for US households by more than $100 per a year with prices that vary by region.

Friends of the Earth on Tuesday said Trump’s decision would accelerate the climate crisis and raise gas prices by sending supplies overseas.