Unlocking Domestic LNG Potential Act of 2024

This bill amends the Natural Gas Act to give the Federal Energy Regulatory Commission (FERC) exclusive authority to approve or deny applications for LNG terminal construction, expansion, or operation for exporting or importing natural gas. It requires FERC to deem LNG exports consistent with the public interest when making decisions, streamlining the approval process for energy companies seeking to build or expand export facilities. The bill clarifies that this change does not affect other federal agencies' responsibilities regarding LNG facilities or existing laws governing imports/exports. It directly affects LNG terminal developers, energy exporters, and the federal regulatory process for natural gas trade.