Kudlow says White House looking at infrastructure plan, including energy pipelines, LNG terminals

KEY POINTS

• "I'd like to do anything that will help LNG, terminals, shipping," top White House economic advisor Larry Kudlow told CNBC on Tuesday.
• "We'd like to export oil, natural gas to Europe and to Asia," Kudlow added.
• There are early signs that European leaders would be willing to support the building of liquefied natural gas, or LNG, import terminals.

President Donald Trump's administration is looking at a multifaceted infrastructure plan, according to top White House economic advisor Larry Kudlow on Tuesday.

"We are looking at infrastructure in many different ways," Kudlow said on CNBC's "Squawk on the Street."

"I'd like to do energy infrastructure. I'd like to do pipeline," Kudlow said. "I'd like to do anything that will help LNG, terminals, shipping. We'd like to revise the U.S. shipping industry, which has been dormant for many years. We'd like to export oil, natural gas to Europe and to Asia."

There are early signs that European leaders would be willing to support the building of liquefied natural gas, or LNG, import terminals. New terminals could lead to an increase of American LNG exported to the continent. Trump met with European Commission president Jean-Claude Juncker in July, and boosting natural gas trade was one of the top issues.

"They want LNG, they want it badly, and we're going to do everything we can to accommodate them," Kudlow said.

As the U.S. continues trade talks with Europe, the Trump administration has continued to push its European allies to import more LNG. The U.S. is also urging Europe to reduce its reliance on Russian state-controlled companies for natural gas transported by pipeline. Russia dominates Europe's supply of natural gas. But the U.S. is making some early inroads into the European market, as the German government offered support to build an LNG terminal in northern Germany.

Trump has made infrastructure a priority in domestic politics as well. A day after the 2018 midterm elections, Trump said he hopes to work with congressional Democrats on infrastructure. Members of both the Republican and Democratic parties have called for improvements to the country's aging bridges, roads and airports.

WATCH: CNBC's full interview with White House advisor Larry Kudlow