ExxonMobil expects the European Union to sign multi-decade contracts for U.S. natural gas, according to a report published by the Financial Times on Wednesday. The move would align with Europe’s broader commitment to secure American energy supplies.
In July, the EU pledged to purchase $750 billion worth of U.S. energy by 2028 as part of a major trade agreement with Washington.
Peter Clarke, senior vice president of Exxon’s liquefied natural gas (LNG) division, said Europe’s expanding LNG infrastructure makes long-term supply deals a logical step. He explained that Exxon already sells about 80% of its LNG through long-term contracts, highlighting the stability such arrangements provide.
Clarke described Europe as “the most important market” for U.S. LNG exports. He added that the region’s next challenge will be deciding how to support long-term contracting to secure its future energy needs.
