Debating the exportation of natural gas in a liquified form has been a popular theme of many discussions focused on U.S. energy policy. However, when you look at the current scenario, we're already exporting more natural gas volumes than we're expected to approve for LNG. Both Canada and Mexico have been sizable purchasers of natural gas through existing pipelines like those of Kinder Morgan Energy Partners (NYSE:KMP).
Based on the current estimate range, only 6.5 billion to 8.5 billion cubic feet per day will probably be absorbed by the global market. We've already approved nearly half of that total, between Cheniere Energy's (NYSEMKT:LNG) Sabine Pass facility and the newly approved FreeportLNG operation. Twenty applications remain, with Dominion Resources next up on the docket.
How many more applications will be approved, meanwhile, is anyone's guess. For our analysts' opinions on the matter, tune in to the following video.
Joel South owns shares of Ford. Taylor Muckerman owns shares of Cheniere Energy. The Motley Fool recommends Dominion Resources and Ford and owns shares of Ford and General Electric. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.