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Obama Admin OKs 2nd Nat Gas Export Hub

The Obama administration on Friday approved a second U.S. terminal to export liquefied natural gas (LNG) to non-free trade agreement countries, further expanding the nation's role in international gas trade.The approval of natural gas exports from Freeport LNG's Quintana Island, Texas, terminal ends nearly a two-year pause in the Energy Department's review of export applications, as the administration sought to address concerns that sending U.S. gas abroad could harm U.S. manufacturers."It is an historic moment for the United States," said Phil Flynn, senior market analyst at the Price Futures Group in Chicago. "From a price standpoint this is definitely going to put some upward pressure on prices, further out in 2015 to 2018."Since the department signed off on exports from Cheniere's Sabine Pass terminal in 2011, a fierce debate over the future of America's natural gas bounty has swept through Washington and elsewhere.Rapid growth in shale gas output has placed the United States in a ...

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  1. Oil pricing probe widens, Britain pledges tough action

    Oil companies will face the full force of the law if they manipulated prices, Britain's energy minister said on Wednesday as a rating agency warned of massive fines ...

  2. Occidental Chairman Resigns After Shareholders Rebel

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    British oil group BP is pressing ahead with a $500 million-plus investment in the Shetland Islands, a shot in the arm for the government's efforts to revive the Nort...

  5. U.S. Energy Secretary Nominee Has Ties to Consultancy

    President Barack Obama's pick for energy secretary owns shares in an energy consultancy that has worked for government agencies and the oil and gas industry, accordi...

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    The Schork Report’s Stephen Schork on the outlook for U.S. oil production.

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