Indo-Pacific Strategic Energy Initiative Act

Indo-Pacific Strategic Energy Initiative Act

This bill requires and authorizes actions related to supporting energy projects in other countries, including projects to increase energy security in the Indo-Pacific region.

The Department of State must prioritize U.S. government effort in helping the governments of Japan, India, and other like-minded countries in the Indo-Pacific region to increase their energy security and reduce energy emissions, including through providing diplomatic and political support as necessary. The U.S. Trade and Development Agency must provide early-stage support for energy infrastructure projects in the Indo-Pacific region that promote the reduction of greenhouse gas and carbon dioxide emissions. The State Department, the Department of Commerce, and the Department of Energy must identify projects appropriate for such support.

The U.S. International Development Finance Corporation (1) may provide support for projects related to the importation of liquefied natural gas and the generation of low-emission energy, including projects owned by foreign government entities; and (2) may not prohibit or restrict support for a project on the basis of the type of energy involved.

The Export-Import Bank must establish a strategic energy portfolio focused on financing projects that may increase U.S. energy exports and are related to the development or construction of (1) liquefied natural gas import terminals, (2) carbon capture and storage, (3) blue hydrogen infrastructure, or (4) other low-emission energy infrastructure.