In a landmark shift in FERC policy, new LNG terminals will be granted import provisions under Section 3 of the Natural Gas Act rather than under the certificate requirements of Section 7 (c). Instead of being considered facilities for interstate commerce, the new facilities will be deemed gas supply facilities and thus will not be subject to cost-based rates and open access bidding requirements. Under the new policy, developers will be able to import supplies for their own use and marketers will be able to contract privately for terminal services at market-based rates. This new policy from the FERC eases the regulatory approval process.

Want to start your own LNG terminal project? It's simple, here's the checklist (source Project Finance Magazine):

• Find a strategic location: Large parcels of land strategically located in an area where industrial facilities are accepted
• Find a port with accessibility and a deepwater harbor
• Locate next to pipeline infrastructure with adequate capacity for large load transportation
• Get access to a strong and viable market
• Have a strong well defined government and public relations plan
• Obtain federal, state and local support in the planning stages of the facility
• Develop education concerning LNG and the facilities operations