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

The U.S. government has approved plans for an $8.2 billion offshore liquefied natural gas (LNG) export terminal off the Texas coast. The Maritime Administration (MARAD) announced its approval of the deepwater port license application, clearing a significant regulatory hurdle for the project. The facility is designed to handle 8.4 million tonnes of LNG annually and is expected to increase U.S. LNG export capacity by 7% to 9%.