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Stock impact report

U.S. energy secretary tells skeptical executives natural gas export pause will be short-lived [CNBC]

Hess Corporation (HES) 
Last hess corporation earnings: 1/29 07:30 am Check Earnings Report
US:NYSE Investor Relations: hess.com/investors
Company Research Source: CNBC
new projects would be short-lived and would not alter the industry's meteoric growth. In less than a decade, the U.S. has become the world's largest LNG exporter as production of the commodity and construction of export terminals has boomed. LNG is natural gas cooled into liquid form to make it easier to transport. U.S. exports have provided European allies with energy security as they seek to end their dependence on Russian gas in the wake of Moscow's invasion of Ukraine. Industry executives argue LNG will play a key role in the energy transition by displacing coal for electricity generation. The Department of Energy announced a pause on exports from new projects in January to evaluate the impact the LNG surge has had on the climate, energy security and domestic prices. “This pause on new LNG approvals sees the climate crisis for what it is: the existential threat of our time,” President Joe Biden said after the January announcement. Secretary of Energy Jennifer Granholm in Show less Read more
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