President Donald Trump said Thursday the United States would guarantee Europe’s supply of liquefied natural gas, even as he fears the booming export industry could drive up gas prices for consumers Americans.
Patrick Pouyanne, CEO of TotalEnergies, asked Mr. Trump, who was speaking remotely at the World Economic Forum in Davos, Switzerland, what he would do if expected growth in U.S. LNG projects caused the price of gas to rise. domestic gas.
He also asked Trump whether he would agree to guarantee the security of Europe’s LNG supplies, which reduces its dependence on gas from Russia.
“I’ll make sure you get it,” Mr. Trump responded, adding that he plans to speed up permitting for LNG projects even after the United States becomes the world’s top exporter of natural gas in super-refrigerated form in 2023 under its predecessor.
“I think the more you do, the more the price will come down, and I would like to see the permits come out quickly,” Mr. Trump said.
On Monday, the president ordered the U.S. Department of Energy to resume reviewing LNG export applications, after the previous Biden administration froze them. This week, the ministry also extended the consultation period for a study into the environmental and economic impacts of the thriving industry, saying approvals would not be immediate.
-Some U.S. manufacturing companies that consume large amounts of gas have opposed the rapid development of LNG, fearing it would lead to higher prices for consumers.
Mr. Trump also said the United States would build more power plants to meet the growing demand for electricity linked to artificial intelligence. “I will give them permission under an emergency declaration, I can get the permissions myself without having to go through years of waiting.”
He also praised coal as a potential backup source for power generation facilities. Several decades ago, coal generated about 50% of U.S. electricity, but it has since declined to about 16% due to concerns about its carbon emissions and competition from natural gas, wind and electricity. solar.
“There are companies in the United States that have coal right next to the plant, so that in an emergency they can use our very clean coal on a short-term basis,” Mr. Trump said.
He also said the European Union was treating the United States poorly and making it difficult to import products into Europe, “while they expect to and do sell their products to the United States.”
