A bill to revoke prior authorization to import liquefied natural gas through certain facilities.

Summary

Revokes orders which were issued before the date of enactment of this Act under the Natural Gas Act which authorize the importation of natural gas for processing or transportation by certain facilities. Prohibits the Federal Energy Regulatory Commission from: (1) approving the recovery in rates by any natural gas company of costs related to liquefied natural gas (LNG) volumes which have been authorized for importation through such facilities but which have not actually been imported; and (2) permitting recovery of any equity investment on such facilities. Prohibits the issuance of any order authorizing the importation of LNG under the Natural Gas Act unless the Secretary of Energy determines that: (1) the delivered price of the LNG is competitive with the delivered price of alternate supplies of natural gas; and (2) the contract terms covering the sale of such LNG are responsive to changes in the natural gas market. Makes this Act applicable to: (1) certain certificated facilities which commenced deliveries of LNG before the date of enactment of this Act; and (2) certain tankers constructed for the ocean transportation of LNG to such facilities.

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1 official file

• Introduced in House

  summary · EN · 11 August 1986

  Open at official source

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