“My administration is announcing today that export authorizations for American liquefied natural gas can now be extended through the year 2050,” Trump said on Wednesday.
The announcement extends the current practice of granting 20-year export terms by an additional 10 years to countries with which the US does not have free-trade agreements in place, the Department of Energy said in a press release.
Secretary of Energy Dan Brouillette said that LNG exports will reduce the United States’ trade deficit by $10 billion in 2020.
The proposed policy change was originally announced on 11 February.
Under the Trump administration, the United States began an aggressive campaign to diversify energy exports globally.
