Perry Resigns; Brouillette Named as Replacement
Energy Sec. Rick Perry submitted his letter of resignation to President Trump onboard Air Force One to a rally in Texas last night (Oct. 17). Perry’s departure which had been widely rumored in recent days. This afternoon (Oct. 18) the President announced by Twitter that Deputy Sec. Dan Brouillette would be Perry’s replacement: “I want to thank Secretary of Energy Rick Perry for the outstanding job he has done,” the president tweeted. “He will be leaving at the end of the year to pursue other interests. Rick was a great Governor of Texas and a great Secretary of Energy… He is also my friend! At the same time, I am pleased to nominate Deputy Secretary Dan Brouillette to be the new Secretary of Energy. Dan’s experience in the sector is unparalleled.” LNG Allies has a strong relationship with Brouillette and believes he will be a superb Secretary of Energy.
Trump Taps Brouillette for Top Spot at DOE (S&P Global Platts)
Like Perry, Brouillette has been a big proponent of energy exports, often pointing to how booming oil and gas production has changed the global energy markets and geopolitics… During his tenure at DOE, Perry played an active role championing US LNG abroad, and in some cases was on hand for the unveiling of major agreements between US exporters and buyers. For instance, he helped reassure foreign entities that US regulatory approvals for LNG terminals and exports were not subject to being reopened and renegotiated by subsequent administrations. “The long and short of it is, Perry has been a strong, persistent, but not pushy champion for US LNG around the world,” said Fred Hutchison of LNG Allies, adding Perry helped to solidify the relationship that has developed between US companies and Polish companies, for example. “He’s assembled around him a first-rate team, and just because the conductor is walking off the stage doesn’t mean the whole orchestra is going to disband,” Hutchison said, when asked about whether that advocacy would continue. On LNG exports, Brouillette has said China’s retaliatory tariffs and trade policy uncertainty have not damaged the prospects for the US LNG industry. He said sales to South Korea, Japan and Mexico make LNG exports to China “almost a rounding error.” The trade tensions with a major growing demand market for LNG have generally been viewed as creating headwinds for US LNG project developers seeking to secure long-term contracts often needed to help secure financing.