TotalEnergies CEO: Europe should negotiate free trade with US of LNG

TotalEnergies CEO Patrick Pouyanne stated on Wednesday that European nations should negotiate to get a free-trade guarantee for liquefied gas (LNG).

These comments were made as U.S. president Donald Trump imposed tariffs on Chinese goods, leading to Beijing imposing a 10% levy on U.S. crude and 15% on U.S. LNG in response on Tuesday.

Pouyanne, who spoke to reporters following the announcement of the company's fourth quarter earnings added that the LNG export capacity from the United States is expected to almost double in the coming years.

What happens, then, if the U.S. suddenly decides to export less than in the past? "We must not go from an over-dependence of Russia to an overdependence of another country, even though it is an ally," Pouyanne stated.

There are two kinds of countries. Those with free trade agreements signed by the Americans, under which they can't suspend their exports. And then there are countries like Europe without free trade agreements.

He said: "It would be a good idea for Europeans in the future negotiations to ask for some sort of free-trade guarantees on LNG."

(source: Reuters)