“In the face of unprecedented levels of domestic natural gas production, net imports of natural gas into the United States fell 25 percent in 2011. Net imports as a percentage of total natural gas consumption decreased to around 8 percent in 2011. A combination of both higher exports and lower imports led to a decline in net imports. Based on preliminary data for 2011, domestic dry natural gas production increased by about 8 percent to 23,000 billion cubic feet (Bcf) in 2011 while total natural gas delivered to consumers increased to a lesser degree, rising by just 2 percent during the same period. This combination led to greater domestic natural gas supply and relatively low prices in the United States, thus reducing U.S. reliance on foreign natural gas. It also widened the price differential between Henry Hub and foreign markets outside of North America, making liquefied natural gas (LNG) exports more attractive than ever before. By the end of 2011, seven project sponsors applied to the Department of Energy (DOE) for authorization to export domestic LNG to foreign countries. As of June 30, 2012, Sabine Pass Liquefaction LLC has been the only terminal that received DOE’s approval to export domestic LNG to both Free Trade Agreement and non-Free Trade Agreement countries.”