Technip Energies sees US moratorium on LNG exports ending faster if Trump wins

KBR

31/10/2024 15:00

By Anna Peverieri
       Oct 31 (Reuters) - A Donald Trump victory in next week's
U.S. presidential election could speed up the lifting of a
moratorium on liquefied natural gas (LNG) exports and unlock
opportunities in the U.S. market, the CEO of Technip Energies
 TE.PA  said on Thursday.
    
    WHY IT'S IMPORTANT
    In January, U.S. President Joe Biden's energy department
paused approvals for new LNG export permits to non-free trade
agreement countries to allow officials to update the economic
and environmental studies it uses to decide whether approving
additional exports is in the public interest. 
    A federal judge in July blocked the administration's ability
to continue the pause in application approvals. 
    Democratic presidential candidate Kamala Harris has not said
whether she would attempt to continue the pause.
    Republican Trump has promised to speed up energy permitting,
though this promise could be undercut by his plan to apply 60%
tariffs on imports from China.
    
    KEY QUOTES
    A "Trump victory could faster lift the moratorium", Technip
Energies CEO Arnaud Pieton said on an investor call. 
    A Harris victory “doesn't mean that the energy moratorium
won't be lifted,” but it could take more time, he added. 
    Technip Energies has signed several major contracts this
year, including one in a consortium with pipeline operator
Energy Transfer  ET.N  for the Lake Charles LNG plant in the
United States.
    Pieton said the potential value of the deal - subject to a
final investment decision - could top $4-5 billion. 

    CONTEXT
    Technip Energies, which specialises in engineering and
technology for the energy industry, on Thursday lifted its
annual revenue guidance, buoyed by project deliveries. 

 (Reporting by Anna Peverieri; Editing by Mark Potter)
 ((Anna.Peverieri@thomsonreuters.com;))