Acasă » Oil&Gas » Import-Export » Trump bets on new European LNG terminals, but EU funds meagre

Trump bets on new European LNG terminals, but EU funds meagre

3 August 2018
Import-Export
energynomics

US President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb “vastly” more shipments from the United States but current EU investment in new projects will only help open small markets.

In a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday, Trump said part of the US-EU trade talks sought to expand America’s reach into the continent’s gas markets which were awash with Russian supply.

“And we are already talking to the European Union about building anywhere from 9 to 11 ports, which they will pay for, so that we can ship our LNG over to various parts of Europe,” he said, according to Euractiv.com.

The comments follow trade talks with European Commission President Jean-Claude Juncker last week where Trump said the EU would purchase “vast amounts” of US LNG. Juncker said Europe would build more terminals to handle the influx.

Responding to Trump’s latest statements, the European Commission told Reuters on Tuesday that bilateral talks helped cement €278 million ($325 million) in EU funding earmarked for LNG import projects in Croatia, Greece and Cyprus. They are due onstream between 2018 and 2020.

Leave a Reply

Your email address will not be published. Required fields are marked *