SPN head Kwasniewski: the EU’s plan to purchase energy resources from the United States is unattainable
The European Union’s plans to purchase energy resources worth $750 billion from the United States are unattainable, given the capacity of the European market, Richard Kwasniewski, head of the Slovak Gas and Oil Union (SPNZ), expressed this opinion to journalists.
“We think that this volume, which exceeds the capacity of the European natural gas market, cannot be achieved,” he said.
In his opinion, the provision of a sufficient number of vessels that could transport a larger volume of LNG from the United States to the EU will also be an obstacle.
“It is better to leave the decision to ensure the supply to the market and the demand of specific traders. In terms of diversification, the United States is already the largest supplier of LNG to the EU. The extreme attraction of supplies from the United States to the detriment of other suppliers would not improve the EU’s energy security, rather, on the contrary,” concluded Kwasniewski.
At the end of July, the head of the European Commission, Ursula von der Leyen, and US President Donald Trump agreed that from August 1, the United States would impose duties of 15% on about 75% of European goods imported into the United States instead of 30% on all imports that were threatened to be introduced.
In return, the European Commission promised to purchase $750 billion worth of American oil, gas, nuclear equipment and fuel, as well as invest $600 billion in the US economy.
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