The company Freeport LNG Development LP, working with an Australian financial firm Macquarie Group, expects to receive its first federal permit over the next few weeks. The company, which already has a tower south of Houston, which she uses to import natural liquefied gas, plans to add equipment that will allow it to export gas. Houston Cheniere Energy Inc., Which has a receiving terminal in Louisiana, has already received a partial resolution, which required her to receive long-term contracts to export gas. Companies also need to install new equipment that would cost her a few billion dollars. American companies hope to sell gas at lower cost in foreign markets, where contracts for natural gas associated with the much more expensive crude oil. The largest gas producers, including Chesapeake Energy Corp. and EnCana Corp. enthusiastically embraced the idea. This will allow them to receive more gas from new fields without cluttering up the U.S. market.
Large industrial gas consumers are concerned that the provision of 20-year export licenses may raise natural gas prices and make American companies that use it, not competitive. Proponents point to the creation of new jobs. Together, the two fields in the Gulf of Mexico could provide export 3.4 billion cubic feet of gas daily on board the tanker, which is approximately 5% of current U.S. consumption. President of Cheniere Charif Swauk claims that gas exports totally makes sense and is combined with a desire to Obama's double American exports over the next five years.