President Trump assures European energy buyers of sufficient LNG supplies, even if it means higher gas prices in the US. He emphasizes the importance of rapid approvals for new LNG export capacity and urges the EU to increase purchases to address the trade surplus.
President Trump has pledged to Europe an energy purchasers that there will be ample liquefied natural gas ( LNG ) supplies, even if it results in elevated gas prices domestically. Trump 's assurance came in response to a query from TotalEnergies chief executive Patrick Pouyanne, who inquired about the U.S. president's stance on U.S. LNG exports and their potential impact on domestic natural gas prices.
'I would make sure that you get it,' Trump stated, according to Reuters, emphasizing his commitment to ensuring European access to U.S. LNG. He further added, 'I think the more that you do, the lower the price is going to go, and what I'd like to see is rapid approvals,' for new LNG export facilities. The United States has rapidly ascended to become the world's leading LNG exporter in recent years. It also solidified its position as the primary supplier to Europe following Russia's suspension of most pipeline gas flows in 2022. Prior to 2022, U.S. LNG exports to Europe averaged 15 million tons annually. However, this figure surged to 55 million tons in both 2022 and 2023. In the lead-up to the November elections, Trump urged the European Union to increase its purchases of U.S. LNG as a means of rectifying the trade surplus with the United States. He issued a veiled threat, warning that tariffs would be implemented if the EU failed to comply. Trump reiterated his call for amplified LNG imports earlier this week, once again urging the European Union to bolster its purchases of American liquefied gas. 'The one thing they can do quickly is buy our oil and gas,' Trump told media on Monday. 'We will straighten that out with tariffs, or they have to buy our oil and gas.' The EU is indeed augmenting its purchases of U.S. LNG, driven by depleting gas storage levels amidst robust seasonal demand. This surge in demand has prompted LNG traders to redirect cargoes originally destined for Asia to Europe.
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