ExxonMobil Eyes Long-Term LNG Deals as EU Commits to U.S. Energy Pact
ExxonMobil anticipates the European Union will engage in long-term U.S. gas contracts, following a deal to purchase $750 billion worth of American energy by 2028. Europe's LNG infrastructure expansion is pivotal for this commitment. In 2024, the U.S. supplied significant portions of the EU's energy imports.
The European Union is poised to enter multi-decade U.S. gas contracts as part of a commitment to purchase billions of dollars in American energy, according to reports from the Financial Times.
In July, the EU committed to acquiring $750 billion in U.S. energy by 2028 under a new trade agreement with Washington. Despite declining to comment, the EU's actions suggest long-term energy ties with the U.S. are imminent.
Peter Clarke, ExxonMobil's senior vice president of liquefied natural gas (LNG), noted Europe's growing infrastructure as a critical factor for long-term supply contracts. The U.S., a key player in the energy trade, provided a substantial portion of the EU's energy imports in 2024, with LNG imports seeing a significant annual rise.
(With inputs from agencies.)
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