• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 1 hour Wonders of Shale- Gas,bringing investments and jobs to the US
  • 18 mins Why is Strait of Hormuz the World's Most Important Oil Artery
  • 12 mins IMO2020 To scrub or not to scrub
  • 21 mins Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? To get Jared (Frisch School w/ 2.8 GPA) a Mideast win with peace deal ? China greatest threat next 50 years.
  • 7 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 1 hour Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
  • 2 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 4 hours California's Oil Industry Collapses Despite Shale Boom
  • 7 hours Devastating Sanctions: Iran and Venezuela hurting
  • 7 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 6 hours Shale to be profitable in 2019!!!
  • 2 hours Misunderstanding between USA and Iran the cause of current stand off, I call BS
  • 1 hour "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
Saudi Arabia’s Oil Addiction Won’t End Anytime Soon

Saudi Arabia’s Oil Addiction Won’t End Anytime Soon

Saudi Arabia remains reliant on…

Oil Stabilizes Ahead Of Weekly Inventory Data

Oil Stabilizes Ahead Of Weekly Inventory Data

Oil prices held steady on…

US-EU Trade Truce To Boost U.S. LNG Exports To Europe

Gas Pipeline

The agreement between the United States and the European Union to work together toward ‘zero tariffs’ is setting the stage for increased U.S. exports of liquefied natural gas (LNG) to the EU, U.S. Energy Secretary Rick Perry said on Thursday at the opening of the second U.S. LNG export facility at Cove Point, Maryland.

“It is a new day and I think a very bright day,” Secretary Perry said. “Our allies, they can count on, no strings attached that U.S. energy will keep flowing their way,” he added, as quoted by Houston Chronicle.

After a meeting with the President of the European Commission, Jean-Claude Juncker, on Wednesday, U.S. President Donald Trump said that the two agreed “to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.”

The parties also agreed to boost energy cooperation.

“The European Union wants to import more liquefied natural gas — LNG — from the United States, and they’re going to be a very, very big buyer. We’re going to make it much easier for them, but they’re going to be a massive buyer of LNG, so they’ll be able to diversify their energy supply, which they want very much to do. And we have plenty of it,” President Trump said.

The completion of the Cove Point LNG export expansion project makes it the second LNG export facility in the continental United States, after Sabine Pass in Louisiana.

Related: Saudi Arabia Halts Oil Shipments At Key Chokepoint

These two facilities now ship U.S. LNG to 30 nations on five continents, with a combined export capacity of 3.6 Bcf/d.

U.S. LNG exports increased from 0.5 billion cubic feet per day (Bcf/d) in 2016 to 1.94 Bcf/d in 2017.

Another four LNG export projects are underway across the U.S.—Elba Island LNG in Georgia, Freeport LNG in Texas, Corpus Christi in Texas, and Cameron LNG in Louisiana.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • David Jones on July 27 2018 said:
    This shouldn't be much of a surprise to anyone really, any deal would involve some concession to the US oil industry since this whole trade war was probably mainly about the energy transition some countries have been pushing, another example of what the fossil industry is willing to do to keep business as usual going. Every move this president makes exposes him as a simple subordinate to oil and other corporate interests (I am also wondering if the same might be true about his Russian counterpart to some degree, it would certainly give them something to agree on and a common enemy (the transition away from fossil fuels) to work against). It would seem these days, US republican presidents are mostly just fossil industry executives in chief. Everything else encompasses acts of throwing crumbs at their political base. No actual government actions that would benefit the country in the long run seem to be part of their agenda and the idea that this administration actually cares about the well being of any segment of the average population, whether it is at home or abroad, borders on the ridiculous. All their actions are intended to help sponsors and satisfy short term needs of their base in return for their support (who do not seem to understand that the longer the transition gets pushed back the worst it will be for them when it all falls to pieces and right now, there is a substantial chance that it will). If anything good comes out of this administration at all, it'll be unintentional. The "no strings attached" comment above is particularly amusing, not all of us are born yesterday.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News