Energy Secretary Chris Wright approved an immediate increase in liquefied natural gas (LNG) exports from the Plaquemines LNG Terminal in Louisiana, while the department also launched a new exchange of crude oil from the Strategic Petroleum Reserve (SPR).
Source: Department of Energy
The U.S. Department of Energy (DOE) announced two actions this week aimed at strengthening global energy supplies and stabilizing markets amid rising geopolitical tensions.
Energy Secretary Chris Wright approved an immediate increase in liquefied natural gas (LNG) exports from the Plaquemines LNG Terminal in Louisiana, while the department also launched a new exchange of crude oil from the Strategic Petroleum Reserve (SPR).
LNG Export Capacity Increased
DOE authorized an additional 0.45 billion cubic feet per day (Bcf/d) of LNG exports from Venture Global’s Plaquemines facility to countries that do not have a free trade agreement with the United States.
With the new authorization, the Plaquemines LNG Terminal is now permitted to export up to 3.85 Bcf/d of natural gasto both free trade agreement and non-FTA countries.
The facility began exporting LNG in December 2024 and has already increased shipments to more than 3 Bcf/d.
“Thanks to President Trump and American innovators, the U.S. is not only the largest producer and exporter of LNG, but will more than double its LNG exports in the coming years,” Wright said in a statement announcing the approval.
Assistant Secretary Kyle Haustveit of DOE’s Hydrocarbons and Geothermal Energy Office said the move will help strengthen global energy supplies.
“Our mission to enable secure, reliable, and affordable energy has never been more important than now,” Haustveit said.
Strategic Petroleum Reserve Exchange
Separately, DOE issued a Request for Proposal (RFP) to begin the first phase of a crude oil exchange from the Strategic Petroleum Reserve.
The initial exchange will make 86 million barrels of oil available to energy companies as part of a broader 172-million-barrel exchange program.
Under the exchange system, companies temporarily borrow oil from the reserve and later return it with additional barrels as a premium, increasing the total amount stored in the reserve without cost to taxpayers.
Oil released under the program will come from SPR storage sites at Bryan Mound, West Hackberry, and Bayou Choctaw along the Gulf Coast.
DOE officials said early deliveries could begin reaching markets by the end of next week, with return shipments scheduled to maintain the long-term readiness of the reserve.
Part of Coordinated Global Effort
The exchange is part of a coordinated effort requested by President Donald Trump, in which International Energy Agency member nations agreed to release a combined 400 million barrels of oil from strategic reserves.
DOE officials say the actions are intended to help stabilize global energy markets as tensions in the Middle East and disruptions to maritime shipping routes threaten supply chains.
Today, the Strategic Petroleum Reserve holds approximately 415 million barrels of oil, compared with about 395 million barrels one year ago.
Bids for the SPR exchange are due by 5 p.m. Central Time on March 17, 2026.
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