1. Short title This Act may be cited as the Indo-Pacific Strategic Energy Initiative Act . 2. Findings Congress makes the following findings: (1) The United States currently has an approximately 100-year supply of natural gas in proven reserves. (2) The Department of Energy projects global consumption of natural gas to increase through at least 2050, driven primarily by demand growth in Asia. (3) United States natural gas production increased by 91 percent from 2005 to 2021. At the same time, United States energy-related carbon dioxide emissions decreased by 18 percent. (4) The growth in domestic natural gas production has resulted in a change from the United States importing a net 566,000,000,000 cubic feet of liquified natural gas in 2005, to exporting a net 3,539,000,000 cubic feet in 2021. During that period, crude oil production in the United States more than doubled. (5) As a result of the revolution in oil and gas production technologies, the United States petroleum trade went from its peak net import volume of 12,549 barrels per day in 2005, to a net export of 62,000 barrels per day in 2021. At Brent crude prices, in nominal dollars, this reflects a trade deficit of about $250,000,000,000 in 2005, changing to a surplus of about $1,600,000,000 in 2021. (6) Demand for natural gas is rising in the Indo-Pacific region, particularly as countries look to make emissions reductions and transition from higher emissions fuel sources. (7) 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 . (8) 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