Liquefied Natural Gas Act of 2005 - Amends the Natural Gas Act to transfer from the Federal Energy Regulatory Commission (FERC) to the Secretary of Energy oversight functions regarding the exportation or importation of natural gas, including free trade agreements and liquefied natural gas.
Declares that no person shall site, construct, expand, or operate a liquefied natural gas import terminal without first having secured a FERC authorization.
Prohibits any State or local government from requiring any form of authorization with respect to the siting, construction, expansion, or operation of a liquefied natural gas import terminal except as otherwise provided by Federal law.
Prescribes guidelines for FERC oversight authority pertaining to scheduling and administrative proceedings.
Defines liquefied natural gas import terminal as including all facilities located onshore or in State waters that are used to receive, unload, store, transport, gasify, or process liquefied natural gas imported to the United States from a foreign country, but does excluding the tankers used to deliver liquefied natural gas to such facilities.