Untitled Document
Untitled Document

Senator tells Platts that LNG and offshore revenue sharing are priorities

Oregon’s Democratic US Senator Ron Wyden, who is preparing to head the Senate Energy and Natural Resources Committee, believes the nation should move cautiously on natural gas exports but is open to sharing revenues from offshore oil and gas development in federal waters with state governments. Wyden made his comments Sunday on “Platts Energy Week,” an all-energy news and talk show program.

Wyden, who will replace New Mexico Democratic Senator Jeff Bingaman as the committee’s chairman when the 113th Congress convenes in January, has asked US Department of Energy Secretary Steven Chu to explain the agency’s criteria in approving applications to export liquefied natural gas.

“I think we ought to look before we leap,” Wyden noted.

He also said Congress was “in the dark” about criteria the DOE is using to approve such applications.

Wyden said he wanted environmental impacts, such as the effects of hydraulic fracturing and methane emissions, to be considered when deliberating the export of LNG. He called gas a “strategic” resource and said the US should “wring every bit of value out of it.” But he also said he did not want approval of LNG exports to drive up gas prices in the United States.

In addition, Wyden outlined his approach to considering revenue-sharing agreements with states in connection with oil and gas development in offshore federal waters.

While he stopped short of calling for the expansion of such drilling to federal waters along the US East and West coasts, where it is currently blocked by the Obama administration, he said the panel would look at expanding offshore drilling into new areas that the administration had  already approved. Assessments of potential offshore energy development would possibly include consideration of revenue sharing for offshore renewable energy projects in certain states.

“I think there's a chance to develop a third path in between those that want no revenue sharing and those who do want revenue sharing,” he said.

Wyden said revenue sharing had long been a cause for “stark division” of the committee. Bingaman has long opposed revenue sharing with states bordering any federal waters.

Related Articles

China signs $1.6B engineering deal for Siberian LNG project

07/10/2014 A subsidiary of Chinese state oil giant China National Offshore Oil Corp. (CNOOC) has signed an around $1.6 billion deal to build equipment for a liquefied natural gas project in Siberia, Reuters r...

Golden Pass files application for LNG project

07/08/2014 Golden Pass Products LCC of Houston has submitted a formal application with the US Federal Energy Regulatory Commission to construct and operate its proposed LNG export facility at the existing Gol...

Cheniere and Pertamina sign additional 20-year LNG SPA

07/05/2014 Cheniere Energy Inc. subsidiary Corpus Christi Liquefaction LLC has entered into a liquefied natural gas (LNG) sale and purchase agreement with PT Pertamina (Persero) under which Pertamina has agre...

Cheniere, Woodside sign 20-year LNG sale and purchase agreement

07/01/2014 Cheniere Energy Inc. reports that its subsidiary, Corpus Christi Liquefaction LLC, has entered into a liquefied natural gas (LNG) sale and purchase agreement with Woodside Energy Trading Singapore ...

LNGL receives extension of LNG project site option

06/30/2014 Liquefied Natural Gas Ltd. advises that the Gladstone Ports Corp. Ltd. has granted a three-month extension to the site agreement to lease at LNGL’s Fisherman’s Landing LNG project on the mainland a...

More Oil & Gas Financial Articles

China signs $1.6B engineering deal for Siberian LNG project

Thu, Jul 10, 2014

A subsidiary of Chinese state oil giant China National Offshore Oil Corp. (CNOOC) has signed an around $1.6 billion deal to build equipment for a liquefied natural gas project in Siberia, Reuters reports.

Golden Pass files application for LNG project

Tue, Jul 8, 2014

Golden Pass Products LCC of Houston has submitted a formal application with the US Federal Energy Regulatory Commission to construct and operate its proposed LNG export facility at the existing Golden Pass LNG import site in Sabine Pass, Texas.

Cheniere and Pertamina sign additional 20-year LNG SPA

Sat, Jul 5, 2014

Cheniere Energy Inc. subsidiary Corpus Christi Liquefaction LLC has entered into a liquefied natural gas (LNG) sale and purchase agreement with PT Pertamina (Persero) under which Pertamina has agreed to purchase approximately 0.76 million tonnes per annum of LNG upon the beginning of operations of Train 2 of the LNG export facility being developed near Corpus Christi, Texas.

Cheniere, Woodside sign 20-year LNG sale and purchase agreement

Tue, Jul 1, 2014

Cheniere Energy Inc. reports that its subsidiary, Corpus Christi Liquefaction LLC, has entered into a liquefied natural gas (LNG) sale and purchase agreement with Woodside Energy Trading Singapore Pte Ltd under which Woodside has agreed to purchase 0.85 million tonnes per annum of LNG upon the commencement of operations of Train 2 of the LNG export facility being developed near Corpus Christi, Texas.

LNGL receives extension of LNG project site option

Mon, Jun 30, 2014

Liquefied Natural Gas Ltd. advises that the Gladstone Ports Corp. Ltd. has granted a three-month extension to the site agreement to lease at LNGL’s Fisherman’s Landing LNG project on the mainland at Gladstone Queensland, Australia, from June 30 to Sept. 30.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ