American companies will soon be exporting liquefied natural gas to Europe.
U.S. Secretary of Energy Rick Perry signed two authorizations in Brussels, Belgium. Perry said, "If American gas was not in the market today, what do you think you would be paying for that Russian molecule of gas? It would be substantial. I would suggest to you, probably twice as high, so the U.S. supply of gas, not only is giving the European community the freedom from being held hostage, it's also driving down substantially the cost of living, the cost of your energy, the cost of manufacturing."
The two companies are Sempra and Tellurian. Tellurian will be authorized to export its liquified natural gas from a Driftwood LNG project in Louisiana. Perry said that once it's completed it will be able to export more than one cargo ship a day.
Sempra will be authorized to export up to 1.9 billion cubic feet of natural gas as LNG from its Port Arthur project in Texas.