America Will Fulfil Europe’s Natgas Needs, Says Trump The demand for natural gas has increased globally as it is a cleaner fossil fuel than coal and oil. Thus, when the U.S. president Donald Trump met with Jean-Claude Juncker, the European Commission President, at the White House, they stated that they are agreeing on a deal, which could be regarding natural gas. Europe Needs More Gas It’s clear from the recent developments that Europe needs more gas than it can produce. Its imports are rising with each year and will likely to increase in future. The question is who will come to the aid to Europe’s energy needs? Recently, Trump stated that the 28-nation European Union would be the “massive buyer of natural gas”, and he added that America has plenty of it. Several European power plants are switching to natural gas from coal, which contributes to the high level of carbon emissions than natural gas. Moreover, natural gas is more eco-friendly than coal. However, the production of natural gas in Europe is gradually declining. One of the major reasons for that the Dutch government ordered a severe reduction of output at the Groningen field owing to earthquakes caused by exploration. Apart from Groningen field, other sources of natural gas are near maximum capacity. Thus, European countries are in dire need of natural gas and L.N.G., a chilled form of natural gas sold by the U.S. can be transported on ships to any place. CNBC reported that buying natural gas from the U.S. has its advantages also. If Europe imports natgas from America, it can finally be free from its dependence on Russia as Russia offers the fuel at affordable prices. Furthermore, being side by side with the U.S., there is a chance that Trump could hold off on imposing costly tariffs on auto imports. However, the import will be a costly deal. If in future, costs of natgas reduced, it may enter into European countries, but America will lose a lot of cash. The post America Will Fulfil Europe’s Natgas Needs, Says Trump appeared first on OWLT Market.

The demand for natural gas has increased globally as it is a cleaner fossil fuel than coal and oil. Thus, when the U.S. president Donald Trump met with Jean-Claude Juncker, the European Commission President, at the White House, they stated that they are agreeing on a deal, which could be regarding natural gas.

Europe Needs More Gas

It’s clear from the recent developments that Europe needs more gas than it can produce. Its imports are rising with each year and will likely to increase in future. The question is who will come to the aid to Europe’s energy needs? Recently, Trump stated that the 28-nation European Union would be the “massive buyer of natural gas”, and he added that America has plenty of it.

Several European power plants are switching to natural gas from coal, which contributes to the high level of carbon emissions than natural gas. Moreover, natural gas is more eco-friendly than coal. However, the production of natural gas in Europe is gradually declining. One of the major reasons for that the Dutch government ordered a severe reduction of output at the Groningen field owing to earthquakes caused by exploration. Apart from Groningen field, other sources of natural gas are near maximum capacity. Thus, European countries are in dire need of natural gas and L.N.G., a chilled form of natural gas sold by the U.S. can be transported on ships to any place.

CNBC reported that buying natural gas from the U.S. has its advantages also. If Europe imports natgas from America, it can finally be free from its dependence on Russia as Russia offers the fuel at affordable prices. Furthermore, being side by side with the U.S., there is a chance that Trump could hold off on imposing costly tariffs on auto imports. However, the import will be a costly deal. If in future, costs of natgas reduced, it may enter into European countries, but America will lose a lot of cash.

The post America Will Fulfil Europe’s Natgas Needs, Says Trump appeared first on OWLT Market.

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