US government approves second LNG export facility.

FT: The Obama administration approves exports of liquefied natural gas and international companies commit billions for new infrastructure. “The developments were both consequences of the shale revolution in the US.” ….”the Department of Energy on Friday authorised the Freeport LNG project in Texas to export to countries that do not have a trade agreement with the US, including Japan and the members of the EU. It was the first such approval to be granted for two years and only the second ever. ….Freeport has signed deals to sell its gas to Osaka Gas and Chubu Electric of Japan, and BP of the UK. ….Shale gas production has soared in the US in recent years, creating a supply glut that has driven prices down to about $4 per million British thermal units from a peak above $13 in 2008. / Cargoes of LNG, supercooled to minus 160 degrees so it can be transported on tankers, are selling in Asia for the equivalent of about $15 per mBTU, creating an attractive opportunity for exports from the US.
Twenty-six proposed US LNG plants have applied to the Department of Energy for export permits.”