As the US is now at the cusp of becoming a major natural gas exporter, Europe has the opportunity to introduce additional supplies to its market and push down the prices of this strategic resource. Both sides could largely benefit from opening their energy markets and facilitating the transatlantic LNG trade. On November the 4th, decision-makers and industry representatives from both sides of the Atlantic met in Washington, DC to prepare the ground for the US—European gas partnership. Liquefied natural gas (LNG) has been part of Europe's energy supply for just as long as piped gas. The very first LNG ship came from the US to the British Canvey Island in February 1959. “Despite an early start, until now Europe did not have a comprehensive LNG strategy which encompasses the entire EU. However, in recent years, our concerns for the security of supply have been aggra-vated, mainly due to the geopolitical situation to the east of the EU. At the same time, we have witnessed a transition of the gas markets, which have become global rather than regional. Given these two coinciding trends, the European Commission has decided to propose an LNG Strategy, which will be put on the table at the beginning of 2016. We strive to allow even LNG-access, not only to coastal Member States, but also for those which are landlocked through other EU mem-bers,” underlined Maroš Šefčovič, Vice-President of the European Commission, in charge of the Energy Union. The European Union is highly dependent on oil and gas imports. As much as 85% of oil and 65% of gas consumed across the EU comes from [...]
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