(Reuters) – Exxonmobil expects the European Union to sign American gas supply contracts over several decades, as part of its promise to buy billions of US energy, the Financial Times reported on Wednesday.
In July, the EU undertook to buy in the United States for $ 750 billion (640.26 billion euros) of energy by 2028 as part of a large commercial pact with Washington.
Exxon and the EU did not immediately respond to requests for comments from Reuters.
Peter Clarke, executive vice-president of Exxon’s liquefied natural gas division, told Financial Times that the expansion of the LNG infrastructure in Europe made the commitment of a longer-term supply “logical”, noting that Exxon sells approximately 80% of its LNG within the framework of contracts of this type.
Europe is now “the most important market” for American exports of LNG, and the next step will consist for the continent “to determine how it supports the long -term contracts”, according to Peter Clarke cited by the FT.
In 2024, the United States provided 50% of European IMP imports, as well as 17% of oil and 35% of coal, according to Eurostat. Any expansion of energy trade should be focused on LNG, the United States being the world’s leading exporter of this fuel.
“We have noticed in the data a fairly large increase in LNG imports in Europe, from one year to the next, by around 20%,” said Peter Clarke to the FT, adding that 55% of imports came from the United States.
(Written by Preetika Parashuraman, Elena Smirnova, edited by Augustin Turpin)
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