U.S. Secretary of the Interior Doug Burgum and Secretary of Energy Chris Wright have announced the finalization of four 20-year agreements between JERA Co., Inc. and several U.S. LNG producers. The agreements involve purchasing up to 5.5 million tons per year of American LNG, supporting over 50,000 U.S. jobs and adding more than $200 billion to the U.S. GDP according to S&P Global analysis.
The agreements include sales and purchase arrangements with NextDecade Corporation and Commonwealth LNG, as well as heads of agreements with Sempra Infrastructure and Cheniere Marketing LLC for LNG from America's Gulf Coast.
"This investment is a message to the world that American LNG is back thanks to President Trump," said Secretary Burgum. "I am proud to join Secretary Wright and JERA CEO Yukio Kani to celebrate this commitment."
Secretary Wright commented on the announcement: "Today's announcement of investments in American energy that will unlock nearly a quarter trillion dollars in U.S. GDP is a massive milestone."
Yukio Kani, Global CEO and Chairman of JERA Co., Inc., stated: "Today represents a true win-win and we want to thank President Trump for his leadership... They reflect a strong commercial partnership between the U.S. and Japan."
The Department of the Interior has been working on expanding energy production in the Gulf of America, announcing disbursements totaling approximately $353.6 million in energy revenues for oil- and gas-producing states such as Alabama, Louisiana, Mississippi, Texas, along with their coastal subdivisions.
President Trump’s administration has focused on expanding U.S. LNG exports by removing regulatory barriers left by previous administrations.
