Biden’s LNG export pause erodes confidence, Shell CEO warns

News Snapshot:

Kathryn Mikells, chief financial officer of ExxonMobil, also criticised the decision, saying it could damage efforts to wean countries off coal. “It means less US-produced natural gas is available to replace coal around the world – that’s clearly a bad thing,” she told the Financial Times. Exxon is building a $US10 billion ($15 billion) LNG terminal in Texas, expected online in 2025, but it has already secured the necessary permits. Chevron CFO Pierre Breber said his company’s position was that energy policy should not be a question of politics. “The world needs affordable, reliable, ever-cleaner energy,” he told the FT....