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Seeking To Deflate Trade Tensions, EU Will Double US Gas Imports In Five Years

May 3, 2019

Via: Forbes

As trade tensions over steel, cars and airplanes mount between Washington and Brussels, the European Union yesterday tried to calm the situation by convening a summit on an import the two sides both want to see increase – natural gas.

Flush with reserves from the shale gas boom, the U.S. is eager to export supply to Europe – something that was not possible before because of US laws restricting such exports to only countries with which it has free trade agreements. The EU, in turn, is eager to reduce its dependence on Russian gas. And so the LNG trade started, at a slow pace, in April 2016 after the US changed the export restriction.

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