Cheniere’s green light in August to Bechtel to begin construction of liquefaction facilities at Sabine Pass puts the US on the road to becoming a significant LNG exporter. However, the potential volume and profile of US production over the long term is shrouded in uncertainty because of a de facto moratorium on further export projects. Converted US regas facilities look very competitive at current US gas prices; but will the US authorities seek to limit the extent of LNG exports and, if so, how much LNG export will the government allow? And how does the attractiveness of LNG exports change when prices change? With a policy decision unlikely before November’s presidential election, new liquefaction projects elsewhere in the world appear to face a discomfiting level of uncertainty until well into visual_editor013.