Sec. 6. Strategic energy infrastructure funding
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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: The Corporation— may, notwithstanding any other provision of this division, provide support under title II for projects related to importation of liquefied natural gas and other clean energy products (as defined in section 9 of the Indo-Pacific Strategic Energy Initiative Act ), including for such projects of entities owned or controlled by the government of a foreign country, if the Secretary of State, acting through the Assistant Secretary of State for East Asian and Pacific Affairs, certifies to the appropriate congressional committees that such support— furthers the national economic or foreign policy interests of the United States; and is necessary to preempt or counter efforts by a strategic competitor of the United States to secure significant political or economic leverage or acquire national security-sensitive technologies or infrastructure in an Indo-Pacific country that is an ally or partner of the United States; shall provide equal consideration to each such project, without regard to the type of the energy involved; and 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. .
The Export-Import Bank Act of 1945 ( 12 U.S.C. 635 et seq. ) is amended by adding at the end the following: The Bank shall establish a balanced strategic energy portfolio focused on providing financing (including loans, guarantees, and insurance) for projects described in subsection
(b)that may facilitate— increases in exports of United States energy commodities; or the export of United States equipment, materials, and technology. A project described in this subsection is a project related to— construction of liquefied natural gas import terminals; commercialization of carbon capture, utilization, and storage; development of blue hydrogen infrastructure; or other low emission energy infrastructure. In carrying out this section, the Bank shall provide equal consideration to each project described in subsection (b), without regard to the type of the energy involved. . The Secretary of Commerce and the Secretary shall promote the funding of projects selected under section 5 among United States energy producers and exporters. The heads of the agencies described in section 5(a) may, for the purposes of this Act, partner and coordinate with public and multilateral financial institutions and export credit agencies of Indo-Pacific countries.
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