[Congressional Record Volume 168, Number 157 (Wednesday, September 28, 2022)]
[Senate]
[Pages S5480-S5482]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 5972. Mr. SULLIVAN submitted an amendment intended to be proposed 
to amendment SA 5499 submitted by Mr. Reed (for himself and Mr. Inhofe) 
and intended to be proposed to the bill H.R. 7900, to authorize 
appropriations for fiscal year 2023 for military activities of the 
Department of Defense, for military construction, and for defense 
activities of the Department of Energy, to prescribe military personnel 
strengths for such fiscal year, and for other purposes; which was 
ordered to lie on the table; as follows:

        At the end of title XII, add the following:

          Subtitle G--Indo-Pacific Strategic Energy Initiative

     SEC. 1281. SHORT TITLE.

       This subtitle may be cited as the ``Indo-Pacific Strategic 
     Energy Initiative Act''.

     SEC. 1282. FINDINGS.

       Congress makes the following findings:
       (1) The United States currently has an approximately 100-
     year supply of natural gas.
       (2) Natural gas will see increasing global demand and use 
     beyond 2050.
       (3) United States natural gas production increased by 54 
     percent from 2005 to 2017. At the same time, total United 
     States carbon dioxide emissions decreased by 14 percent. The 
     natural gas share of electricity production increased from 19 
     percent in 2005 to 32 percent in 2017.
       (4) Between 2005 and 2019, carbon dioxide emissions from 
     the United States power sector declined by 33 percent, with 
     fuel switching to natural gas, accounting for more than half 
     of those reductions. During that period, the United States 
     economy grew by 20 percent, United States energy consumption 
     fell by 2 percent, and per capita emissions dropped to their 
     lowest levels since 1950.
       (5) Between 1990 and 2018, the natural gas and oil industry 
     reduced methane emissions by 23.6 percent through voluntary 
     actions, while expanding production by 70 percent.
       (6) Demand in the United States and globally for clean-
     burning natural gas and liquefied natural gas will continue 
     to increase over the next several decades, even as renewable 
     energy resources increase.
       (7) Demand for natural gas is rising in the Indo-Pacific 
     region, particularly as countries look to make emissions cuts 
     and transition from higher emissions fuel sources.
       (8) The expanding number of infrastructure projects in the 
     Indo-Pacific region, carried

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     out under the Belt and Road Initiative, is leading to higher 
     emissions in the region.
       (9) According to the International Energy Agency, ``The 
     number of countries and territories with [liquefied natural 
     gas] import terminals has grown from nine in 2000 to 42 in 
     2020.''. Further, the International Energy Agency has found 
     that ``transition[s] in Asian gas markets [are] even more 
     important in the wider context of global clean energy 
     transitions, where natural gas will be required to make a 
     more flexible contribution as the share of variable renewable 
     energy sources grows and coal use progressively declines''.
       (10) The United States saw a 66.3-percent increase in 
     liquefied natural gas exports and an 11.2-percent increase in 
     oil production in 2019.
       (11) As a result of the natural gas revolution, the United 
     States petroleum trade deficit in dollars fell from about 
     $320,000,000,000 in 2007 to about $3,000,000,000 in 2020, as 
     net imports declined.
       (12) Australia and the United States are both important 
     global energy exporters and thus have a shared interest in 
     supplying the growing energy demand in the Indo-Pacific 
     region.
       (13) Japanese companies have long invested in United States 
     liquefied natural gas projects, including the Government of 
     Japan shifting from relying on liquefied natural gas from the 
     Middle East to liquefied natural gas from the United States.
       (14) The People's Republic of China currently is one of the 
     largest financiers of overseas energy and greenhouse gas 
     intensive projects. The People's Republic of China also uses 
     those investments to project its influence and secure 
     critical minerals supply chains and infrastructure.

     SEC. 1283. SENSE OF CONGRESS.

       It is the sense of Congress that--
       (1) the United States reaffirms its commitment to 
     quadrilateral cooperation with Japan, India, and Australia 
     (collectively, with the United States, known as the 
     ``Quad''), and that United States should continue to pursue 
     strengthening cooperation in the energy sector in light of 
     the global threats and challenges facing all 4 countries;
       (2) the Association of Southeast Asian Nations (commonly 
     referred to as ``ASEAN'') and its 10 members (Brunei, 
     Cambodia, Indonesia, Laos, Malaysia, Myanmar, the 
     Philippines, Singapore, Thailand, and Vietnam) have worked 
     with the United States toward stability, prosperity, and 
     peace in Southeast Asia, and ASEAN will continue to remain a 
     strong, reliable, and active economic and strategic partner 
     in the Indo-Pacific region;
       (3) the United States and the Republic of Korea enjoy a 
     comprehensive alliance partnership, founded in shared 
     strategic interests and cemented by a commitment to 
     democratic values, which includes recognizing the important 
     role of energy cooperation through the United States-Republic 
     of Korea Energy Security Dialogue; and
       (4) the United States has economic, national security, and 
     domestic interests in assisting allies and partners in Indo-
     Pacific countries to reduce greenhouse gas emissions and 
     achieve energy security through diversification of their 
     energy sources and supply routes.

     SEC. 1284. STATEMENT OF POLICY.

       It is the policy of the United States--
       (1) to engage and lead on international emissions 
     reductions and adaptation, including assisting allies and 
     partners in reducing higher emissions fuel sources through 
     exports of cleaner-burning United States-produced fuels and 
     emission-reduction technologies;
       (2) to advance United States foreign policy and development 
     goals by assisting allies and partners of the United States 
     in the Indo-Pacific region to decrease their dependence on 
     energy resources from countries that use energy dependence to 
     coerce, intimidate, and influence other countries;
       (3) to develop strategies to counter competition from the 
     Russian Federation and the People's Republic of China to 
     protect the energy and national security of the United States 
     and the energy and national security of allies and partners 
     of the United States in the Indo-Pacific region;
       (4) to support free and open trade in clean-burning energy 
     products and promote the continued development of lower-
     emissions energy fuels and technologies in the Indo-Pacific 
     region;
       (5) to improve free, fair, and reciprocal energy trading 
     relationships with allies and partners of the United States 
     in the Indo-Pacific region;
       (6) to promote the energy security of allies and partners 
     of the United States in the Indo-Pacific region by 
     encouraging the development of energy infrastructure and 
     accessible, transparent, and competitive energy markets that 
     provide diversified sources, types, and routes of energy;
       (7) to encourage public and private sector investment in 
     lower-emissions energy infrastructure projects in the Indo-
     Pacific region;
       (8) to supply countries that rely on higher emitting fuel 
     sources with cleaner burning and abundant alternatives; and
       (9) to help facilitate the export of United States energy 
     resources, technology, and expertise to global markets in a 
     way that benefits the energy security of allies and partners 
     of the United States in the Indo-Pacific region.

     SEC. 1285. ENERGY INFRASTRUCTURE PROJECT SUPPORT.

       (a) In General.--The Secretary of State, in consultation 
     with the Secretary of Energy, the heads of other relevant 
     United States agencies, and energy-importing allies and 
     partners of the United States, shall, as appropriate, 
     prioritize and expedite the efforts of the Department of 
     State, the Department of Energy, and such other agencies in 
     supporting the governments of Japan, India, Australia, and 
     other like-minded Indo-Pacific countries (including member 
     countries of ASEAN and the Republic of Korea) to increase 
     their energy security and reduce energy emissions, including 
     through--
       (1) providing diplomatic and political support to those 
     governments, as necessary--
       (A) to facilitate international negotiations concerning 
     cross-border infrastructure;
       (B) to enhance the regulatory environment with respect to 
     energy projects in the Indo-Pacific region; and
       (C) to develop accessible, transparent, and competitive 
     energy markets supplied by diverse sources, types, and routes 
     of energy; and
       (2) providing support--
       (A) to improve energy markets in the Indo-Pacific region, 
     including early-stage project support and late-stage project 
     support for the construction or improvement of energy 
     projects and related infrastructure pertaining to emissions 
     reduction;
       (B) to diversify the energy sources and supply routes of 
     Indo-Pacific countries; and
       (C) to enhance energy market integration across the region.
       (b) Project Selection.--
       (1) Identification.--The Secretary of State, the Secretary 
     of Commerce, and the Secretary of Energy shall identify 
     energy infrastructure projects that would be appropriate for 
     United States assistance under this section.
       (2) Eligibility.--A project is eligible for United States 
     assistance under this section if the project--
       (A) has been identified by the Secretary of State, the 
     Secretary of Commerce, and the Secretary of Energy as 
     promoting energy security in the Indo-Pacific region or the 
     country in which the project is located;
       (B) promotes the reduction of greenhouse gas and carbon 
     dioxide emissions; and
       (C) is located in an Indo-Pacific country.
       (3) Preference.--In selecting projects for United States 
     assistance under this section, the Secretary of State, the 
     Secretary of Commerce, and the Secretary of Energy shall give 
     preference to projects that--
       (A) are expected to enhance energy market integration; or
       (B) have the potential to use goods and services of the 
     United States, another Quad country, a member country of 
     ASEAN, or the Republic of Korea, during project 
     implementation.
       (c) Diplomatic and Political Support.--The Secretary of 
     State shall provide diplomatic and political support to the 
     governments of Japan, India, Australia, and other like-minded 
     Indo-Pacific countries (including member countries of ASEAN 
     and the Republic of Korea), as necessary, including by using 
     the diplomatic and political influence and expertise of the 
     Department of State to build the capacity of those countries 
     to resolve any impediments to the development of projects 
     selected under subsection (b).
       (d) Project Support.--The Director of the Trade and 
     Development Agency shall provide early-stage project support 
     with respect to projects selected under subsection (b).

     SEC. 1286. INFRASTRUCTURE FUNDING.

       (a) Establishment of Strategic Energy Portfolio of the 
     United States International Development Finance 
     Corporation.--Title V of the Better Utilization of 
     Investments Leading to Development Act of 2018 (22 U.S.C. 
     9671 et seq.) is amended by adding at the end the following:

     ``SEC. 1455. STRATEGIC ENERGY PORTFOLIO.

       ``The Corporation--
       ``(1) may provide support under title II for projects 
     related to importation of liquefied natural gas and 
     generation of low emission electricity and other energy, 
     including for such projects of entities owned or controlled 
     by the government of a foreign country;
       ``(2) may not prohibit, restrict, or otherwise impede the 
     provision of support on the basis of the type of energy 
     involved in a project; and
       ``(3) should, in providing support authorized by paragraph 
     (1), coordinate with the Japan Bank for International 
     Cooperation and the Government of Australia pursuant to the 
     trilateral memorandum of understanding on development finance 
     signed on November 12, 2018.''.
       (b) Promotion of Energy Exports by Export-Import Bank of 
     the United States.--The Export-Import Bank Act of 1945 (12 
     U.S.C. 635 et seq.) is amended by adding at the end the 
     following:

     ``SEC. 16. STRATEGIC ENERGY PORTFOLIO.

       ``(a) In General.--The Bank shall establish a strategic 
     energy portfolio focused on providing financing (including 
     loans, guarantees, and insurance) for projects described in 
     subsection (b) that may facilitate--
       ``(1) increases in exports of United States energy 
     commodities; or
       ``(2) the export of United States equipment, materials, and 
     technology.
       ``(b) Projects Described.--A project described in this 
     subsection is a project related to--
       ``(1) construction of liquefied natural gas import 
     terminals;
       ``(2) commercialization of carbon capture, utilization, and 
     storage;
       ``(3) development of blue hydrogen infrastructure; or

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       ``(4) other low emission energy infrastructure.''.
       (c) Private and Foreign Public Sector Investment.--
       (1) Private sector investment.--The Secretary of Commerce 
     and the Secretary of State shall promote the funding of 
     projects selected under section 1285 among United States 
     energy producers and exporters.
       (2) Foreign public sector investment.--The heads of the 
     agencies described in section 1285(a) may, for the purposes 
     of this subtitle, partner and coordinate with public and 
     multilateral financial institutions and export credit 
     agencies of Japan, India, Australia, and other Indo-Pacific 
     countries (including member countries of ASEAN and the 
     Republic of Korea), such as the Japan Bank for International 
     Cooperation.

     SEC. 1287. REPORTING.

       (a) In General.--Not later than one year after the date of 
     the enactment of this Act, and annually thereafter, the 
     President shall submit to the appropriate congressional 
     committees a report on progress made in providing assistance 
     for projects under this subtitle that includes--
       (1) a description of the energy infrastructure projects the 
     United States has identified for such assistance; and
       (2) for each such project--
       (A) a description of the role of the United States in the 
     project, including in early-stage project support and late-
     stage project support;
       (B) the amount and form of any debt financing and insurance 
     provided by the United States Government for the project as 
     well as any coordination with foreign public financial 
     institutions or export credit agencies;
       (C) the amount and form of any debt financing and insurance 
     provided by foreign public financial institutions or export 
     credit agencies;
       (D) the amount and form of any early-stage project support; 
     and
       (E) an update on the progress made on the project as of the 
     date of the report.
       (b) Appropriate Congressional Committees Defined.--In this 
     section, the term ``appropriate congressional committees'' 
     means--
       (1) the Committee on Foreign Relations, the Committee on 
     Energy and Natural Resources, and the Committee on 
     Environment and Public Works of the Senate; and
       (2) the Committee on Foreign Affairs, the Committee on 
     Energy and Commerce, and the Committee on Natural Resources 
     of the House of Representatives.

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