President Biden Announces LNG Export Decisions Pause

Zinger Key Points
  • The Biden administration announces a temporary pause on pending decisions of liquefied natural gas (LNG) exports on Friday.
  • "This pause on new LNG approvals sees the climate crisis for what it is: the existential threat of our time," says President Biden.

In a significant move, the Biden administration has announced a temporary pause on pending decisions of liquefied natural gas (LNG) exports on Friday. The statement from President Joe Biden emphasized the need to scrutinize the impacts of LNG exports on energy costs, America’s energy security and the environment.

“This pause on new LNG approvals sees the climate crisis for what it is: the existential threat of our time,” President Biden said in a statement released Friday.

Related News: Natural Gas Data Sparks Optimism For Chevron, BP, Shell And Natural Gas ETFs

Shares of LNG exporters, including Cheniere Energy, Inc. LNG and Exxon Mobil Corporation XOM, are under close watch after the President’s pause on pending decisions of LNG exports was announced.

Investors are also watching the United States 12 Month Natural Gas ETF UNL and United States Natural Gas ETF UNG following the announcement.

LNG, XOM Price Action: According to Benzinga Pro, shares of Cheniere Energy are up 1.82% at $167.20 at the time of publication.

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