Official Brussels is already considering the scenario of increasing supplies of liquefied natural gas from the US in exchange for Donald Trump's rejection of the idea of high tariffs on European goods. This decision, if it is adopted, will be another blow to the economy of the aggressor country Russia.
Points of attention
- The expansion of the European market for American LNG producers may contribute to their rapid growth in the coming years.
- The EU proposal is expected to be welcomed by the Trump administration.
- The White House may lift restrictions on exports of liquefied natural gas to Europe.
The EU can reduce dependence on Russian gas
European leaders believe that increasing LNG imports from the United States will help minimize the continent's dependence on Russian supplies.
In addition, it is indicated that this will contribute to the appeasement of the new US president regarding the trade deficit with the EU.
For U.S. manufacturers, the expansion of the European market, along with Trump's promise to lift a freeze on export licenses immediately after taking office, could pave the way for rapid growth over the next four years.
Michael Seibel, CEO of Venture Global, one of the leading producers of LNG in the USA, has already commented on the situation.
According to the latter, official Brussels is looking forward to the start of cooperation with the new Trump administration to consolidate the role of the United States as a key supplier of clean liquefied natural gas.
Trump will most likely agree to the EU proposal
This assumption was voiced by Harold Hamm, the founder of Continental Resources.
He drew attention to the fact that official Washington is ready to increase exports to the EU and help the continent reduce its residual dependence on Russian gas.
He also added that he has already had time to discuss energy policy with Trump's transition team and manufacturers.
I expect the suspension of LNG permits to be lifted in the first days of the Trump administration, said Mike Sommers, CEO of the American Petroleum Institute.
As the head of the European Commission, Ursula von der Leyen, has already stated, the American LNG can become the main beneficiary of the trade negotiations between Washington and Brussels.
Recently, the European leader confirmed her readiness to increase imports from the USA.
