In a significant move, the Biden administration has announced a temporary pause on pending decisions of liquefied natural gas (LNG) exports on Friday. The statement from President Joe Biden emphasized the need to scrutinize the impacts of LNG exports on energy costs, America’s energy security, and the environment.
“This pause on new LNG approvals sees the climate crisis for what it is: the existential threat of our time,” President Biden said in a statement released Friday.
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Shares of LNG exporters, including Cheniere Energy, Inc. LNG and Exxon Mobil Corporation XOM, are under close watch after the President’s pause on pending decisions of LNG exports was announced.
Investors are also watching the United States 12 Month Natural Gas ETF UNL and United States Natural Gas ETF UNG following the announcement.
LNG, XOM Price Action: According to Benzinga Pro, shares of Cheniere Energy are up 1.82% at $167.20 at the time of publication.
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