After soybeans, EU touts U.S. LNG imports to woo Trump on trade

BRUSSELS (Reuters) by Alissa de Carbonnel – The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive. In talks to urge Trump to drop hefty new tariffs last month, the EU’s chief executive Jean-Claude Juncker agreed to work to increase imports of U.S. soybeans and LNG to the bloc. The EU has long worked to diversify away from relying on Russia for almost 40 percent of its gas needs by developing LNG infrastructure to access other suppliers like the United States. Whether U.S. LNG imports can win market share away from Russia, however, will depend on market forces, EU officials are quick to stress. “The growing exports of U.S. liquefied natural gas, if priced competitively, could play an increasing and strategic role in EU gas supply,” Juncker said in a statement. “But the U.S. needs to play its role in doing away with red tape restrictions,” he said, referring to U.S. rules that require regulatory approval for LNG exports to Europe. Since the arrival of the first U.S. LNG supplies in 2016, cumulative… continue reading

Continue reading After soybeans, EU touts U.S. LNG imports to woo Trump on trade. This article appeared first on CTRM Center.

Source: CTRM Center

Related Posts

Leave a reply