Key Takeaways New U.S. licensing rules may delay or block ET's ethane exports to China, its key overseas market. China takes nearly 50% of U.S. ethane exports, making ET's export terminals highly exposed. ET plans to apply for licenses and may redirect volumes to other Asian countries if need arises.Energy Transfer LP (ET) , a leading U.S. exporter of Liquefied Natural Gas (“LNG”), has substantial exposure to the ethane market of China through its Orbit joint venture with the country’s Satellite Petrochem ...