ConocoPhillips CEO called for USA to end LNG Permit Pause in NovemberLance

Lance stressed the need for balanced decision-making to ensure energy security while promoting environmental sustainability

Ryan Lance, CEO of ConocoPhillips, the Houston-based oil and gas producer expanding into LNG, argues that the Biden administration should lift its pause on liquefied natural gas (LNG) export licenses following the November presidential election. In an interview with Bloomberg TV on Monday, Lance expressed concern about the uncertainty faced by customers and gas producers regarding future market conditions. He emphasized the importance of providing an outlet for gas and warned that a prolonged pause could lead to reduced activity levels and potentially higher gas prices.

With companies aiming to construct more LNG export terminals along the US Gulf Coast to reduce reliance on Russian gas, the Biden administration has hesitated due to environmental concerns raised by activists opposing further expansion of fossil fuel-related facilities. Acknowledging the administration's intentions to assess the future of the US market, Lance suggested that such assessments could occur concurrently with moving export terminal projects forward. He advocated for a parallel approach to address environmental considerations while facilitating progress in LNG export licensing. Lance stressed the need for balanced decision-making to ensure energy security while promoting environmental sustainability.