EU's plan to buy billions worth of US energy is imposable to fulfill
(MENAFN)
The European Union’s recent commitment to purchase $750 billion worth of American energy over the next three years has been labeled “almost impossible” to fulfill, according to a report published by a news agency on Tuesday, citing industry analysts and EU officials.
The European Union’s recent commitment to purchase $750 billion worth of American energy over the next three years has been labeled “almost impossible” to fulfill, according to a report published by a news agency on Tuesday, citing industry analysts and EU officials.
The ambitious pledge was part of a broader trade agreement finalized with the United States on Sunday, aimed at averting a transatlantic trade conflict. The deal imposes a baseline 15% tariff on most EU exports to the US, while also including EU promises to invest $600 billion into the American economy and massively ramp up imports of US energy.
However, experts say the energy commitment is far-fetched. “The headline figure is completely unrealistic,” said Laura Page, a senior analyst at commodity intelligence firm Kpler. She noted that the EU spent roughly €76 billion on American energy last year, and tripling that figure would require Europe to abandon cheaper suppliers and reroute nearly all of the US’s oil and gas exports to the continent. “It’s just never going to happen,” she added.
Politico also pointed to structural and logistical hurdles that could derail the pledge. These include limited American supply capacity, insufficient European infrastructure to process US oil, and the EU’s lack of direct control over private import contracts. Kpler’s Homayoun Falakshahi explained that EU refineries can only process a limited amount of American crude, with capacity capped at around 14%. “It really is a fantasy,” he said.
Despite European Commission President Ursula von der Leyen’s assertion that the deal would bolster Europe’s energy security and reduce dependence on Russia, critics remain unconvinced. While Russian pipeline deliveries dropped sharply due to sanctions and the Nord Stream sabotage, imports of Russian liquefied natural gas (LNG) have increased. Last year, Russian LNG accounted for 17.5% of EU energy supply, second only to US deliveries at 45.3%.
In 2024 alone, the EU still imported €23 billion worth of oil, gas, and nuclear fuel from Russia—far too much for US supplies alone to replace.
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