Key information
- The European Union has increased its imports of liquefied natural gas (LNG) from the United States.
- Ursula von der Leyen proposes replacing Russian gas with American LNG to reduce energy prices.
- Germany and the EU have still not severed their energy supply ties with Russia, despite their diversification efforts.
Since the start of the conflict in Ukraine, the European Union has significantly increased its imports of liquefied natural gas (LNG) from the United States. However, it has not completely severed its energy ties with Russia.
EU LNG diversification efforts
At a recent summit in Budapest, Ursula von der Leyen, president of the European Commission, put forward her proposal to Donald Trump for the United States to supply more LNG to the EU to replace Russian gas. This suggestion was intended to address dependence on Russian energy while potentially benefiting both sides.
Addressing Business Concerns
Von der Leyen stressed that the middle ground could be replacing Russian LNG with American LNG, which she said would be cheaper and help lower energy prices in the EU. She said the topic could be discussed further in the context of the US-EU trade deficit, a concern repeatedly raised by Mr. Trump during his campaign.
Germany’s position on energy cooperation
While the EU has made progress in diversifying its energy sources by importing more LNG from the United States, it has not fully decoupled from Russian energy supplies. German Chancellor Olaf Scholz echoed von der Leyen’s sentiment, emphasizing the possibility of finding common ground and compromise with Washington despite potential trade tensions.
If you want access to all articles, subscribe here!
