BRUSSELS, February 26. /TASS/. The European Union can only avoid a trade war with the US if it commits to extended LNG purchases and slashes climate bureaucracy, Francois-Regis Mouton, the European director of the International Association of Oil and Gas Producers, said.
"We need to reassure the Americans that we will be a solid buyer for gas for the long-term," he told the European Politico edition.
Cementing a positive relationship with US President Donald Trump will require the EU to reverse several policies that limit gas consumption and chart an end to fossil fuels, Mouton said. Firmly in the oil and gas industry's crosshairs is an EU methane regulation, which will require importers to monitor and report methane emissions. Starting in 2027, the rules could lead to fines on gas importers if producers abroad don't meet EU standards, according to the publication.
The European Union is clearly keen to buy more American LNG, Mouton noted, adding though that the EU authorities "put in place a methane emission regulation that totally jeopardizes this." "The climate is perhaps an existential threat to us, but we have many others. We have threats to our security. We have threats to our industry. So we need to be more reliable partners, and respect the Americans have their own way," he stressed.