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Europe deepens reliance on US energy

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According to Germany's news magazine Focus, enhanced cooperation in energy between the EU and the US entails a number of political and economic challenges.

An increase in EU imports of US liquefied natural gas carries a number of risks. Over the past 10 years, European companies have signed at least 33 contracts for the supply of American LNG, analysts at Investigate Europe estimated. Notably, ten of them were signed in 2022. This indicates a new dependence of Europe on the United States, the publication said.

Given that Europe has cut the lion's share of Russian gas imports, it has to turn to other countries in order to contain the energy crisis.

However, the region is increasingly at risk of deepening its reliance on the world's biggest economy. Since Donald Trump took office as president, the image of the United States as a reliable partner for Europe has suffered tremendously.

The current situation is unlikely to affect the US presidential election to be held in 2024. The return of former President Donald Trump or the victory of another Republican may have a negative impact on further cooperation between the US and Europe, Focus experts noted.

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