Discussions in the European Union on further opening up its market to American liquefied natural gas could allow consumers to expect a drop in gas prices in the long-term but it too soon to speak about any specific decisions, a Lithuanian diplomat says.
Independence FSRU
© DELFI (E.Skardžiaus nuotr.)

The Europeans have promised the Americans to look for ways to allow more American cars and LNG into the market if US President Donald Trump renounced its plans to impose duties on European steel and aluminum.

The existing situation was on Tuesday discussed by EU trade ministers in Brussels. Representing Lithuania, Deputy Minister of Foreign Affairs Albinas Zananavičius said the gas imports idea could be beneficial to Lithuania.

"We are interested in Europe having as many suppliers as possible as more suppliers means more competition and better prices," the diplomat told BNS Lithuania during a phone conversation from Brussels.

There are no details as yet on specific ways to encourage American gas imports, he said.

"There are mechanisms for negotiating long-term contract and exchanging information. If some regulatory obstacles are identified, we'll look for ways to eliminate them," Zananavičius said, adding that Lithuania is now fifth largest importer of American LNG in Europe after Spain, Portugal, Italy and the UK.

Besides increasing car and gas imports, the Europeans also proposed to the Americans to step up cooperation between regulators and also offered help in reforming the World Trade Organization.

EC officials, however, doubt the EU's proposals would convince Trump to renounce steel and aluminum duties. If they are imposed, the EU pledges to tax certain American goods.

BNS
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