EU imports of liquefied natural gas (LNG) from the US have increased by 181% since their Joint Statement of July 25, 2018 in Washington D.C., when European Commission President Jean-Claude Juncker and US President Donald J. Trump agreed to strengthen EU-US strategic cooperation including in the area of energy, the European Commission said on March 8.
The first EU-US Energy Council High-Level Forum will take place on May 2 in Brussels.
The release of these new LNG figures coincides with European Trade Commissioner Cecilia Malmström’s and Secretary-General Martin Selmayr’s visit to Washington last week for meetings with their US counterparts within the Executive Working Group. The implementation of the different elements of the Joint Statement from Juncker and Trump was one of the topics addressed.
The recent developments on LNG trade attest to the European Union’s continued commitment to deliver on all aspects of the July 25 agreement.
The US is eager to increase LNG exports to the EU Member States. The first batch of US LNG was delivered to Greece near the end of 2018 as part of an agreement between Greek gas corporation DEPA and the US’ Cheniere Energy.
During the Delphi Economic Forum in Greece on March 1, US Ambassador to Athens Geoffrey Pyatt highlighted the completion of the expansion of Revithoussa’s terminal and the ability that that has created to take deliveries of American and other LNG. Pyatt also noted that the creation of a Floating Storage Regasification Unit (FSRU) in Alexandroupolis in northern Greece “is particularly important to unlocking that Balkan energy island and expanding opportunities for exports into Greece of LNG. We’re very hopeful that the FSRU also will move ahead.”
Pyatt noted that Gastrade, the consortium lead, had a successful market test a few weeks ago, and we will continue to work hard to support that as well — which is interesting because it fits, it nests within several other projects in Alexandroupolis.