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Europe shows it is getting serious about buying US LNG

European nations are far behind Mexico and China when it comes to receiving liquefied natural gas from the US, but the region is making its biggest effort to date to change that.

European Commission trade officials will travel to Washington on Aug. 20 to follow up on an energy agreement last month between the Commission's President Jean-Claude Juncker and US President Donald Trump. Europe pledged to import more LNG in a bid to diversify imports, while America is seeking new markets for its expanding production of the fuel. Russia is currently Europe's biggest supplier.

"The European Union is ready to facilitate more imports of liquefied natural gas from the US and this is already the case as we speak," Juncker said in a statement on Thursday. "The growing exports of US liquefied natural gas, if priced competitively, could play an increasing and strategic role in EU gas supply."

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