U.S. LNG News, Lower Venezuela Oil Exports: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

LNG
U.S. to Axe Seven-Year Deadline for LNG Plants - The U.S. is slated to rescind a policy issued by the administration of former President Joe Biden that requires liquefied natural gas (LNG) projects to export within seven years of receiving regulatory approval. The LNG industry had pushed the administration of President Donald Trump to rescind the policy statement issued in April 2023 because several projects require more than seven years to complete. (Reuters)

U.S. LNG Exports Rise in March - The U.S. exported a record amount of LNG in March, selling more than 9 million metric tons (MT) of the superchilled gas, according to preliminary data from LSEG. In March the U.S. exported 9.3 MT of LNG, smashing the December 2023 record of 8.6 MT, as production was buoyed by the ramp up Phase 1 of Venture Global LNG's (NYSE:VG) (Arlington, Virginia) Plaquemines LNG plant, under construction in Louisiana, LSEG data showed. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the related project reports. (Reuters)

CRUDE OIL
Venezuela's Oil Imports Fall 11.5% in March - Venezuela's exports of crude oil and fuel fell 11.5% in March from the prior month as Washington's imposition of secondary tariffs and the cancellation of key licenses to operate in the U.S.-sanctioned energy sector led to delays and cargo suspensions, according to ship tracking data and documents. Trump's administration last week announced a 25% tariff to buyers of Venezuelan crude and gas, which will begin this week, and notified foreign partners of state-run oil company PDVSA (Caracas) it would revoke the authorizations it had granted to operate and export from the country. The March average was 7.8% below exports in the same month of 2024 and the lowest since December. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).