(Bloomberg) -- Kimmeridge Energy Management Co. plans to continue to invest in the US liquefied natural gas export industry, even though new permitting is on hold while the Biden administration scrutinizes the sector.

The company expects to make additional investments in the proposed Commonwealth LNG project in Louisiana, according to Ben Dell, Kimmeridge’s co-founder and managing partner. Kimmeridge is also open to deals with other US LNG export projects, Dell said in an interview, noting that the number of US companies in the space could eventually consolidate.

The company, one of the most active private equity firms in the US shale industry, signed a non-binding agreement last year to take LNG supply from Commonwealth. The project has had to defer its final investment decision to 2025 after the White House announced its polarizing decision to halt the approval of new export permits.

The cost of the LNG pause has been a challenge to developers across the country, who Dell estimates are spending anywhere from $30 million to $60 million just to ride out the permitting delay.

“There is a carrying cost to just staying warm,” Dell said.

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