(a) Presidential declarationThe President may declare a natural gas supply emergency (or extend a previously declared emergency) if he finds that—
(1)
a severe natural gas shortage, endangering the supply of natural gas for high-priority uses, exists or is imminent in the United States or in any region thereof; and
(2)
the exercise of authorities under section 3362 or section 3363 of this title is reasonably necessary, having exhausted other alternatives to the maximum extent practicable, to assist in meeting natural gas requirements for such high-priority uses.
(b) Limitation
(1) ExpirationAny declaration of a natural gas supply emergency (or extension thereof) under subsection (a), shall terminate at the earlier of—