American energy company Venture Capital received approval to export liquefied natural gas (LNG), the U.S. Department of Energy announced in a statement on Tuesday.
The company is authorized to export up to 1.7 billion cubic feet (48.14 million cubic meters) per day of LNG from its Cameron Parish facility at Calcasieu Pass in the state of Louisiana, to any country that does not have a Free Trade Agreement (FTA) with the U.S., according to the statement.
"Projects such as Calcasieu Pass’s LNG export project represent a tremendous opportunity for the U.S.," Secretary of Energy Rick Perry said in the statement.
"To secure our place among the top LNG exporters in the world brings great benefits to both the U.S. and our trading partners around the world," he added.
Under Secretary of Energy Mark Menezes said expanding the U.S.' LNG exports to nations around the world would improve his country's role as an energy leader.
The U.S.' Federal Energy Regulatory Commission authorized the construction of Calcasieu Pass on Feb. 21. Commercial operations from the project are expected to begin in 2022.
The Department of Energy has to provide permits for domestic gas producers in the country who wish to export LNG to countries that do not have a free trade deal with the U.S.
The department currently has authorized a total of 24.74 billion cubic feet (701 million cubic meters) per day of LNG exports to non-FTA countries.
The U.S. is in its third year as a net exporter of natural gas, and is currently exporting LNG to 34 countries across five continents worldwide.
Increased natural gas production in the United States is improving global energy security while stimulating economic development and job creation around the country, according to the U.S. Department of Energy's statement.
The U.S. Energy Information Administration said that natural gas production in the country is expected to reach 90.16 billion cubic feet (2.55 billion cubic meters) per day in 2019 and 92.05 billion cubic feet (2.61 billion cubic meters) per day in 2020 - both estimates if realized would set new production records.
By Ovunc Kutlu