The head of the European Parliament’s International Trade Committee Bernd Lange told reporters from Brussels that the EU will not be able to fulfill its obligations to purchase American LNG under the new trade agreement. The EU currently imports about €100 billion LNG from the U.S. every year, but under the recent EU-U.S. trade deal signed in August, the EU promised to purchase an additional €250 billion annually for three years—a full 350% increase from current levels.
This whole deal is “totally unrealistic,” Lange said. “I see no possibilities to realize this, and I have also my doubts if the capacity in the United States to produce such amounts of oil and LNG exists there.”
