The European Commission and the United States have reached an agreement on tariffs and trade, in which the European Union committed to purchasing US LNG, oil, and nuclear energy products with an expected offtake valued at US$750bn (around €700bn) over the next three years, or US$250bn/year. In 2024, the EU imported for €77bn (US$83bn) of energy products from the US, according to Eurostat data, and for €86bn (US$93bn) in 2023, thus the deal would require the EU to triple its energy imports from the US over the 2026-2028 period.
In volume, the regional bloc imported 20 Mt of coal and lignite from the US in 2023, accounting for 20% of total imports, 88 Mt of oil and oil products, according to Eurostat data, representing 11% of the imports in that category, and 57 bcm of LNG, corresponding to 43% of total LNG imports and 16% of total natural gas imports. The EU is an important market for US energy exports: it accounts for 22% of US coal and lignite exports, 20% of oil and oil products exports and 47% of LNG exports.
Consequently, tripling EU energy imports from the US would require the United States to divert a large part of all its energy exports to the EU.
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