financetom
Business
financetom
/
Business
/
CERAWEEK- US should not "flip-flop" on gas export policy- Hess CEO
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CERAWEEK- US should not "flip-flop" on gas export policy- Hess CEO
Mar 19, 2024 8:37 AM

HOUSTON, March 19 (Reuters) - The United States should

not flip-flop on its gas export policy, Hess CEO John Hess said

on Tuesday.

U.S. President Joe Biden's administration has hit pause on

permits for new liquefied natural gas (LNG) export plants to

ensure projects do not undermine U.S. targets to cut greenhouse

gas emissions.

"Consumers have to rely on the United States for the

important role we play as an exporter of oil and gas, and we

can't flip flop our policy," Hess said. "I think it sends a very

disturbing message to put this pause on LNG."

Europe has increased imports of LNG from the United States

to substitute gas imports from Russia in the wake of Russia's

invasion of Ukraine.

The pause on LNG plant permits is unfriendly for both the

market and climate, Hess said, because gas is being used to

substitute coal in power generation around the world.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved