ConocoPhillips’ LNG offtake interests in planned Mexico and U.S. liquefaction terminals should not be affected in the near term by a pause on federal approvals for new export capacity, executives said.

The Biden administration’s current freeze on authorizations for new liquefied natural gas exports to non-free trade agreement (FTA) countries is “unfortunate” and “clearly more politically driven than fundamental,” said CEO Ryan Lance during a conference call earlier this month to discuss fourth quarter earnings for the Houston-based independent. On the other hand, “it makes us feel a little bit better about what we’re doing on the LNG side because of what we do have permitted. I think it’s shortsighted in the short term; hopefully it will be fixed in the long...