Houston, Texas based Cheniere Energy Inc. has been granted government approval to build a facility that will make the company the first large-scale natural gas exporter in the United States.
Cheniere has said that regulators have approved the construction of the Sabine Pass LNG terminal in Cameron Parish, Louisiana. The facility will chill natural gas into a liquid that will allow it to be shipped on tankers. This will allow producers based in America to export natural gas to markets overseas for higher profits.
The United States is currently lacking the ability to export large quantities of natural gas.
Following the boom in production has pushed American natural gas prices to the lowest it has been in ten years, creating a demand for facilities like Sabine Pass. Several companies are proposing to build similar facilities.