At a meeting at the White House with European Commission President Jean-Claude Juncker, US President Donald J. Trump reiterated his country’s goal of becoming a major exporter of liquefied natural gas (LNG) to Europe, reducing the EU’s reliance on Russia.
“We agreed today to a strengthen and strengthening of our strategic cooperation with respect to energy. The European Union wants to import more liquefied natural gas — LNG — from the United States, and they’re going to be a very, very big buyer,” Trump said. “We’re going to make it much easier for them, but they’re going to be a massive buyer of LNG, so they’ll be able to diversify their energy supply, which they want very much to do. And we have plenty of it,” the US President added.
For his part, Juncker noted that the EU and US decided to strengthen their cooperation on energy. “The EU will build more terminals to import liquefied natural gas from the US. This is also a message for others,” the Commission President noted.
European Commission Vice President for Energy Union Maroš Šefčovič hailed the deal as a “very good day for our transatlantic bond”. He wrote in a tweet that he is pleased to see strategic cooperation on energy at the top of the EU-US agenda and vowed to take this work forward with US Secretary of Energy Rick Perry.
During an interview with FOX Business Opens a New Window, Perry said on July 26 the debut of Dominion Energy’s Cove Point LNG export facility in Lusby, Maryland, sends a clear message to the EU that the America is the global energy.
Russia and Norway are exporting record volumes of fuel to Europe via pipelines. In his speech at Gazprom’s annual shareholder’s meeting on June 29, the CEO of the Russian gas monopoly, Alexey Miller, argued that global LNG development is not causing any dramatic changes in the European gas balance.
“US LNG supplies are constrained by high full-cycle costs and overseas transportation expenditures. In 2017, less than 2 million tonnes were dispatched to European buyers, mostly those that do not receive gas from Russia. American LNG accounted for only 0.5% of Europe’s gas consumption,” Miller said, noting that the results of 2018 so far show continued growth in Gazprom’s supplies to European countries. Gazprom’s deliveries to that market will stand at 101.2 billion cubic meters of gas in the first half of 2018, an increase of 5.5 billion cubic metres (5.7%) from the same period of the record-high 2017, Miller said, citing provisional data.
At a trip to Europe earlier in July, Trump slammed Berlin for agreeing to build the Nord Stream-2 gas pipeline from Russia to Germany which, he argues, will increase Europe’s reliance on Russia gas. Trump urged Europe to opt instead for US LNG supplies.