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Oil, Gas, Petrochemical and Energy Field Specialized Channel

EU Imports of US LNG Rise

The EU and US work to facilitate trade in liquefied natural gas (LNG).

As the European Union and the United States work to facilitate trade in liquefied natural gas (LNG), the EU would import more LNG from the US to diversify and render its energy supply more secure, the European Commission said on August 9.

In their Joint Statement of July 25 in Washington D.C., President Jean-Claude Juncker and President Donald J. Trump agreed to strengthen EU-US strategic cooperation with respect to energy. The US has urged the EU to lessen its gas dependence on Russia.

“The European Union is ready to facilitate more imports of liquefied natural gas from the US and this is already the case as we speak,” Juncker said as cited by the Commission on August 9. “The growing exports of US liquefied natural gas, if priced competitively, could play an increasing and strategic role in EU gas supply; but the US needs to play its role in doing away with red tape restrictions on liquefied natural gas exports. Both sides have much to gain by working together in the energy field,” he added.

Climate Action and Energy Commissioner Miguel Arias Cañete stressed that diversification is an important element for ensuring the security of gas supply in the EU. “Increasing imports of competitively priced liquefied natural gas from the US is, therefore, to be welcomed. This is happening at a time when EU indigenous gas production is declining more rapidly than foreseen and there is an accelerated phase-out of coal power plants in the EU,” Cañete said.

 

 

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