TotalEnergies CEO says Europe should negotiate with US for free trade of LNG

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TotalEnergies CEO says Europe should negotiate with US for free trade of LNG

general :: 7hrs ago :: source - reuters

By Reuters

TotalEnergies CEO Patrick Pouyanne speaks at the Paris Automotive Summit during the 2024 Paris Auto Show in Paris, France. - REUTERS

PARIS (Reuters) - TotalEnergies (TTEF.PA) CEO Patrick Pouyanne said on Wednesday that European countries should negotiate to obtain a free trade guarantee on liquefied natural gas (LNG) from the United States.

The comments come as U.S. President Donald Trump imposed sweeping tariffs on Chinese imports, which led to Beijing imposing a 15% levy on U.S. LNG and 10% on U.S. crude oil in retaliation on Tuesday.

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Speaking to reporters after the company announced fourth quarter earnings, Pouyanne added that LNG export capacity in the United States should practically double in coming years.

"But what happens if all of a sudden the U.S. decides they must export less than they've done historically? ... We must not pass from a so-called over-dependence on Russia to an over-dependence on another country, even if it's an ally," Pouyanne said.

"There are two types of countries: those with free trade agreements that the Americans have signed and under which they cannot suspend exports, and then countries without free-trade agreements, like Europe."

"I think it would be good for Europeans to ask the Americans in the negotiations that are to come, for a sort of free-trade guarantee on LNG," he said.

(Reporting by Benjamin Mallet; Writing by Dominique Patton; Editing by Louise Heavens and Emelia Sithole-Matarise)

Reuters report

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