financetom
Business
financetom
/
Business
/
EU could aggregate demand for US gas as part of trade talks, Lithuania says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU could aggregate demand for US gas as part of trade talks, Lithuania says
Apr 8, 2025 9:22 AM

BRUSSELS (Reuters) - The European Union could consider aggregating its member countries' demand to buy U.S. liquefied natural gas, as part of negotiations with President Donald Trump to try to avert a trade war, Lithuania's energy minister told Reuters on Tuesday.

When EU ministers met on Monday to consider the bloc's response to Trump's planned 20% tariffs on most EU goods, EU trade commissioner Maros Sefcovic said LNG could be part of negotiations.

Also on Monday, Trump said the EU would need to buy U.S. energy and that could reduce the U.S. trade deficit with the bloc.

The U.S. is already Europe's largest LNG supplier, providing 45% of EU LNG imports last year.

Zygimantas Vaiciunas said the EU's options to incentivise purchases of U.S. LNG included "demand aggregation", in which the European Commission would collate LNG demand from groups of EU countries or the entire bloc to present a bigger request for supplies.

"I think that would be one of the potential future talks, about the demand and the potential managing of the demand in the regions, or in the entire EU," Vaiciunas said.

The EU does not directly purchase gas, which is done by companies and traders in commercial contracts. But Brussels has run a joint gas buying scheme, aimed at increasing the bargaining power of member states, since 2023.

While individual companies sign the final contracts, the EU scheme gathers European companies' demand and matches it with offers from global gas sellers.

U.S. LNG has become more crucial to the EU since Moscow's invasion of Ukraine, which forced Europe to reduce its dependence on Russian pipeline gas.

Ukraine is also looking to import large volumes of U.S. gas this year via terminals in countries including, Germany, Poland and Lithuania, a senior Ukrainian energy official told Reuters last month.

Vaiciunas said the EU could also consider amending its methane emissions rules that some U.S. companies say they will struggle to comply with.

"There are some new regulations which have some additional thresholds for U.S. LNG to enter the European market. So this is one of the potentials that could be changed," Vaiciunas said, referring to the EU methane law.

He said the European Commission has not started talks with EU governments on the details of how LNG could factor into trade negotiations with the U.S.

Starting this year, the EU obliges importers of oil and gas to report the methane emissions associated with those imports. Some U.S. LNG exporters have said the fragmented nature of the country's gas industry means they cannot track emissions along their value chains, down to the fields that gas is extracted from.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved