Home News Commodities The EU imports of US LNG grew to almost 3 billion cubic...

The EU imports of US LNG grew to almost 3 billion cubic meters


Share This On Social

The EU imports of US liquefied natural gas (LNG) from 2016 to now have grown to 2.8 billion cubic meters, said the European Commission (EC) in a press release.

At a meeting on July 25 between US President Donald Trump and EC President Jean-Claude Juncker, the European and US agreed to achieve energy diversification in Europe, which was put in a Joint Declaration.

“The increasing export of liquefied natural gas from the United States, if its price is competitive, can play an increasingly important and strategic role in the gas supply to the EU. The United States should abolish bureaucratic restrictions on the export of liquefied gas. Both sides can win a lot by working together in the field of energy”, said Jean-Claude Juncker.

The EU currently has 150 billion cubic meters of free gas capacity and is committed to co-financing the construction of a number of US LNG terminals. This capacity is planned to expand by another 15 billion cubic meters by 2021.

Currently, the US legislation still requires regulatory approval for the export of liquefied natural gas (LNG) to Europe. When this is overcome, the EU can expand its range of strong energy suppliers, diversifying Russian supplies.

So far, five LNG terminals have been built across the EU. The highest capacity (13 billion cubic meters) is the port in France, followed by terminals in Poland (5 billion cubic meters), Lithuania (4 billion cubic meters), Italy (3.8 billion cubic meters) and Malta (0.7 billion cubic meters).

Terminals are in progress in Ireland (6.2 billion cubic meters), Greece (5.5 billion cubic meters), Croatia (2.6 billion cubic meters), Cyprus (capacity not yet known) and expansion of the terminal in Poland to 7.5 billion cubic meters.