of energy. Facing a supply glut and consequent further price drops in 2012, some large US gas producers announced plans to cut natural gas production; however, production rates rose to all-time highs, and natural gas prices remained near ten-year lows. The high price of gas overseas has provided a strong incentive for producers to export it. Exports U.S.-based refineries have gained a competitive edge with their access to relatively inexpensive shale oil and Canadian crude. The U.S. is exporting more refined petroleum products, and also more liquified petroleum gas (LP gas). LP gas is produced from hydrocarbons called natural gas liquids, released by the hydraulic fracturing of petroliferous shale, in a variety of shale gas that's relatively easy to export. Propane, for example, costs around $620 a ton in the U.S. compared with more than $1,000 a ton in China, as of early 2014. Japan, for instance, is importing extra LP gas to fuel power plants, replacing idled nuclear plants. Trafigura Beheer BV, the third-largest independent trader of crude oil and refined products, said at the start of 2014 that "growth in U.S. shale production has turned the distillates market on its head". In 2012, the U.S. imported of natural gas and exported . Of the exports, was sent by pipeline to Canada and Mexico; was re-exports of foreign shipments (bought at low prices and then held until the price went up); and the remaining was exported as liquefied natural gas (LNG) – natural gas that has been liquefied by cooling to about −161 degrees Celsius, reducing the volume by a factor of 600. The US has two export terminals: one owned by Cheniere Energy in Sabine Pass, Louisiana, and a ConocoPhillips terminal in North Cook Inlet, Alaska. Companies that wish to export LNG must pass a two-step regulatory process required by the Natural Gas Act of 1938. First, the United States Department of Energy (DOE) must certify that the project is consistent with the public interest. This approval is automatic for export to the twenty countries that have a free trade agreement with the United States. Applications for export to non-FTA countries are published in the Federal Register and public comment is invited; but the burden of proof for any public harm rests with opponents of the application, so opposition by groups such as the Sierra Club has so far not blocked any approvals. In addition, the Federal Energy