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According to Peter Clarke, ExxonMobil's senior vice president for LNG operations, Europe is now the “most significant market” for US LNG exports, and Brussels' next move will be “to determine how to uphold long-term agreements.”
“I believe that decision is approaching,” Clark stated at the Gastech conference in Milan.
EU nations have, until now, refrained from finalizing long-term agreements for oil and gas purchases to avoid compromising climate objectives, according to the FT. They opted to purchase LNG from the spot market, competing against Asian buyers and frequently paying higher prices.
Nevertheless, this circumstance is currently evolving. In July 2025, the Italian company Eni entered into a 20-year agreement with the American firm Venture Global, whereby it will obtain 2 million tons of LNG annually. Previously, the German SEFE (formerly Gazprom Marketing & Trading, renamed to SEFE after Germany's confiscation) reached a 10-year deal with ConocoPhillips and a 20-year agreement with Venture Global.
source: ft.com
“I believe that decision is approaching,” Clark stated at the Gastech conference in Milan.
EU nations have, until now, refrained from finalizing long-term agreements for oil and gas purchases to avoid compromising climate objectives, according to the FT. They opted to purchase LNG from the spot market, competing against Asian buyers and frequently paying higher prices.
Nevertheless, this circumstance is currently evolving. In July 2025, the Italian company Eni entered into a 20-year agreement with the American firm Venture Global, whereby it will obtain 2 million tons of LNG annually. Previously, the German SEFE (formerly Gazprom Marketing & Trading, renamed to SEFE after Germany's confiscation) reached a 10-year deal with ConocoPhillips and a 20-year agreement with Venture Global.
source: ft.com
