Daily on Energy ⚡ The Biden administration is broadening Alaska’s license to produce and export fossil fuels, supplementing its recent approval of ConocoPhillips’s Willow project with a liquefied natural gas export authorization.
ALASKA FOSSIL FUELS EXPANDING: The Biden administration is broadening Alaska’s license to produce and export fossil fuels, supplementing its recent approval of ConocoPhillips’s Willow project with a liquefied natural gas export authorization inked just a few days before a U.S. delegation meets with other G-7 leaders in Japan — likely to one day be a key export market for LNG from the facility in question.
Alaska LNG, which has FERC approval, is one of the largest export terminals in the LNG pipeline and the only currently planned for Alaska. The administration did a similar thing with the Willow project, taking the Trump-approved project and shrinking it to reduce the impact while ultimately still granting the go-ahead against objections that it takes the country off course on climate change mitigation.
Alex Munton, director of global gas at consultancy Rapidan Energy, stressed that the authorization is news but far from sufficient. Welcome to Daily on Energy, written by Washington Examiner Energy and Environment Writers Jeremy Beaman and Breanne Deppisch . Email [email protected] or [email protected] for tips, suggestions, calendar items, and anything else. If a friend sent this to you and you’d like to sign up, click here. If signing up doesn’t work, shoot us an email, and we’ll add you to our list.
BP intends to increase its Gulf of Mexico production to around 400,000 barrels of oil equivalent per day by 2025 and put forward $46,609,285 in high bids in Lease Sale 259, the offshore oil and gas lease sale held last month, being outdone only by competitor Chevron.
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