European Commission Says US Needs to Cut Red Tape If It Wants More European LNG Purchases
The European Union only accounts for 10 percent of U.S. liquefied natural gas exports, but European Commission President Jean-Claude Juncker said U.S. regulations are a barrier to faster growth. "The growing exports of U.S. liquefied natural gas, if priced competitively, could play an increasing and strategic role in EU gas supply; but the U.S. needs to play its role in doing away with red tape restrictions on liquefied natural gas exports," Juncker said in a press release issued Aug. 9. He noted that there has to be prior regulatory approval before each export to Europe.
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Trade officials from Europe will travel to Washington on Aug. 20 to work on implementing elements of the joint statement Juncker and Trump issued after their meeting last month (see 1807250058 and 1807250031). While the two sides are working together, no auto tariffs will hit Europe, but until they make more progress, the U.S. is not ready to roll back steel and aluminum tariffs on EU countries.