The EU has pledging to buy $750 billion of U.S. oil and gas by the end of Donald Trump’s term, but achieving this goal will be almost impossible due to technical issues, limited U.S. supplies, and the EU’s weak powers over import deals. Gas expert Laura Page, a senior analyst at Kpler commodities firm, believes the headline figure is “completely unrealistic.” The EU has increasingly ramped up liquefied natural gas (LNG) purchases from the U.S. following supply cutoffs linked to Moscow’s invasion of Ukraine in 2022. Trump has long touted increased energy sales as a key demand for easing trade tensions with the bloc. European Commission President Ursula von der Leyen said that purchases of U.S. energy products would diversify sources of supply and contribute to Europe’s energy security. However, not everyone is convinced the numbers add up. The EU spent €375 billion on energy imports last year, including €76 billion from the U.S., meaning the bloc would have to essentially triple its American imports over the next three years. A senior Commission official stated that the deal would be contingent upon specific “circumstances,” such as sufficient LNG infrastructure in Europe and “shipping capacity on the U.S. side.” Another challenge is how Brussels would facilitate those purchases, given that it plays no role in buying cargoes itself. Firms don’t see the economic rationale behind the pledge, and it remains unclear why the Commission would commit to such high figures knowing the challenges involved.
The EU has made a $750B energy promise to Trump in a ‘fantasy’ manner. Sac 871
