U.S. Government Approves $8.2 Billion Offshore LNG Export Port in Texas

The Maritime Administration (MARAD) has approved a deepwater port license for an $8.2 billion offshore liquefied natural gas (LNG) export terminal off the Texas coast. This regulatory approval clears a major hurdle for the project, which is designed to handle 8.4 million tonnes of LNG annually and could increase U.S. LNG export capacity by 7% to 9%.