POWER Cuba Act

To authorize the export of energy resources, energy technologies, and related services to Cuba, and for other purposes. 1. Short title This Act may be cited as the Promote Opportunities With Energy Resources for Cuba Act POWER Cuba Act 2. Findings Congress makes the following findings: (1) Cuba produced an estimated 49,000 barrels per day of petroleum and other liquid fuels for production of energy in 2014 and consumed 171,000 barrels per day of petroleum and other liquids. (2) Cuba imports most of its oil supply from Venezuela, which provides crude oil at a heavily subsidized rate under a 2000 energy agreement. (3) As of January 2015, Cuba had 124,000,000 barrels of proven crude oil reserves, according to Oil and Gas Journal (OGJ). The prospects of finding oil in the deep waters off the northern coast of Cuba attracted many oil and gas companies from around the world. However, due to geological and technological challenges, offshore deep water exploration activity has so far yielded no results. Exploration in Cuba has now shifted onshore, to areas along Cuba’s northern coast. (4) Cuba has four refineries, all of which are owned by Cuba Petroleos, the state-owned oil and natural gas company. Total crude oil refining capacity was 301,400 barrels per day in January 2015, according to Oil and Gas Journal. (5) In an effort to diversify its energy portfolio, Cuba has set a goal of producing 24 percent of its electricity from renewable sources by 2030. Cuba’s current renewable energy output accounts for only 4.3 percent of its total electricity production. To meet this goal, Unión Eléctrica, the state-owned power company, is planning 13 wind projects with a total capacity of 633 megawatts. In addition, Cuba plans to add 755 megawatts of biomass-fired capacity, 700 megawatts of solar capacity, and 56 megawatts of hydroelectric power. (6) The end of trade restrictions could generate a new market for many types of supplies and services from the United States energy industry. 3. Oil and gas exports (a) Energy Policy and Conservation Act Section 103 of the Energy Policy and Conservation Act ( 42 U.S.C. 6212 (g) This section shall not apply to the export of oil to Cuba. . (b) Natural Gas Act Section 3 of the Natural Gas Act ( 15 U.S.C. 717b (g) This section shall not apply to the export of LNG to Cuba. . 4. Export of energy resources, energy technologies, and related services to Cuba (a) In general Notwithstanding any other provision of law, the President is authorized to permit any person subject to the jurisdiction of the United States— (1) to export energy resources and energy technologies to Cuba; (2) to export services related to energy resources and energy technologies described in paragraph (1); (3) to establish facilities related to energy resources and energy technologies described in paragraph (1) and services described in paragraph (2); (4) to conduct any transaction incident to carrying out an activity described in any of paragraphs (1) through (3); and (5) to enter into, perform, and make and receive payments under a contract with any individual or entity in Cuba with respect to the provision of energy resources and energy technologies described in paragraph (1) and services described in paragraph (2). (b) Report Not later than 180 days after the date of the enactment of this Act, and not less frequently than annually thereafter for 4 years, the President shall submit to the relevant committees of Congress a report on the implementation of this section. (c) Definitions In this section: (1) Energy resources The term energy resources (2) Energy technologies The term energy technologies (3) Person subject to the jurisdiction of the United States The term person subject to the jurisdiction of the United States (A) any individual, wherever located, who is a citizen or resident of the United States; (B) any person located in the United States; (C) any corporation, partnership, association, or other organization organized under the laws of the United States or of any State, territory, possession, or district of the United States; and (D) any corporation, partnership, association, or other organization, wherever organized or doing business, that is owned or controlled by a person or organization described in subparagraph (A), (B), or (C). (4) Relevant committees of Congress The term relevant committees of Congress (A) the Committee on Foreign Affairs, the Committee on Energy and Commerce, and the Committee on Appropriations of the House of Representatives; and (B) the Committee on Foreign Relations, the Committee on Energy and Natural Resources, and the Committee on Appropriations of the Senate.

Summary: Promote Opportunities With Energy Resources for Cuba Act or the POWER Cuba Act This bill declares that oil and gas export restrictions under the Energy Policy and Conservation Act and the Natural Gas Act shall not apply to Cuba. The President may permit any person subject to U.S. jurisdiction to: (1) export energy resources, energy technologies, and related services to Cuba; (2) establish energy resource- and technology-related facilities there; (3) conduct related transactions; and (4) enter into and make and receive payments under a contract with any individual or entity in Cuba regarding the provision of energy resources and energy technologies.