It is probably the biggest open question from the trade deal between Brussels and Washington: How should energy imports from the USA worth $ 750 billion come about?
Germany’s Federal Minister of Finance Lars Klingbeil also becomes taciturn when it comes to details of the EU commitments in the fundamental agreement with the USA around a week ago. “I also look at some of this agreement with a few question marks,” the SPD politician told Deutschlandfunk. A final trading deal still has to be signed.
What specifically promised the EU Commission?
The EU has guaranteed US President Donald Trump to buy US energy worth $ 750 billion by the end of his term-that means $ 250 billion in the remaining three years. According to Commission President Ursula von der Leyen, liquid gas (LNG), oil and nuclear fuel from the United States should fill the gaps that will arise after the planned complete waiver of Russian gas and oil.
How much energy from Russia does it fall away?
According to the Commission, the EU countries currently import US energy worth around $ 100 billion a year. Part of the missing around 150 billion is to be achieved by bought energy from the United States instead of Russian gas.
According to official information, 15 percent of LNG imports from Russia came to the first months of this year. But even if this proportion were replaced entirely by the US LNG, that would only be a fraction of the promised increase. According to its own statements, the EU imported fossil fuels from Russia worth 22 billion euros. In addition, according to a plan of the Commission, the EU only claims to have completely discontinued Russian gas imports from 2028.
What about the Core fuel?
The calculation does not work with fossil fuels, which several experts have already pointed out. The nuclear technology remains as the third large pillar of the EU commitments. Imports in the double -digit billions of billions appear here unlikely.
The information from Brussels remains particularly nebulous here. Although there were forecasts, the Commission announced, but “the final quantities and the division into oil, LNG and nuclear fuel as well as fuel services will depend on various factors”.
Who should pay the energy at all?
With all ambiguities, a basic question of commitments is not yet affected, namely who should buy exactly the American gas and the other energy sources. Germany’s vice chancellor Klingbeil does not know whether it is about private investments. These are things “who have agreed between Donald Trump and Ursula von der Leyen and where it is about clarifying the details”.
The EU Commission, on the other hand, explained that although they could simplify the contacts between buyers and sellers, “of course the commercial decisions are among the companies”. At the same time, the United States would have to ensure unhindered access and sufficient production and export capacities.
However, this also means that the Commission should also have an impact on the purchase decisions of the energy importers, in case of doubt at the expense of other providers and regardless of the prices.
What else did the EU promise?
In addition to the $ 750 billion for US energy, the EU has declared that another $ 600 billion should be invested in the United States in the coming years. The Commission refers to the expressions of interests of companies.
A commission officer made it clear that this was a matter for private companies that the Commission as a public authority could not guarantee this. The Commission did not say which companies have expressed investment intentions and to what extent.
A deal without real intent?
With all the ambiguities, it could also be speculated whether the commitments may not have been seriously calculated and only hit for a “deal” will. In any case, there was high pressure to free companies in the EU as quickly as possible from the paralyzing customs uncertainty.
The “deal” definitely makes US President Trump look good. And a final accounting whether the EU really delivered is only possible towards the end of his term. A period of which the characters may be back on a change in US trade policy.
With information from dpa.
