Since the Joint Statement of 25 July 2018 in Washington D.C., when President Juncker and President Trump agreed to strengthen EU-U.S. strategic cooperation including in the area of energy, EU imports of liquefied natural gas (LNG) from the U.S. have increased by 181%. The first EU-U.S. Energy Council High-Level Forum will take place on 2 May 2019, in Brussels, organized in cooperation with Central Europe Energy Partners, Polskie LNG and LNG Allies.
With a share of 12,6% of EU-LNG imports in 2019 so far, the U.S. is Europe's third biggest supplier of LNG. The European Union is ready to facilitate more imports of liquefied natural gas from the U.S., if the market conditions are right and prices competitive. This will allow U.S. exporters to further diversify their European markets whilst contributing to the EU's objectives of security of supply and diversification. Currently, U.S. legislation still requires prior regulatory approval for liquefied natural gas exports to Europe. These restrictions need to be addressed and U.S. rules made easier for U.S. liquefied natural gas to be exported in larger quantities to the EU.
To further explore and discuss the strengthening of the transatlantic strategic cooperation with respect to energy, the EU and the United States are organising the first EU-U.S. Energy Council High-Level Forum in Brussels. The event will take place on 2 May under the theme: “Towards large-scale U.S. LNG exports to the EU's gas market: competitive pricing, infrastructure investments and technological innovation”. The event is organized in collaboration with Central Europe Energy Partners, Polskie LNG and LNG Allies.
The EU has well developed liquefied natural gas import capacities, with about 150 billion cubic meters currently spare. At the same time, given their strategic importance for diversification, current capacities are being expanded and new capacities are being developed in the Adriatic Sea (on the island of Krk in Croatia), in the Baltic Sea, notably in Poland, and in the Mediterranean Sea in Greece. This would allow for a significant increase of liquefied natural gas imports to the EU.