Overview

• ENI and Venture Global signed a 20-year agreement to ship 2 million metric tons of U.S. liquefied natural gas annually, marking ENI’s first long-term contract with an American producer.
• President Trump has tied relief from looming 30% tariffs on EU exports to large-scale purchases of U.S. oil and gas, using LNG sales as leverage in trade negotiations.
• Maroš Šefčovič’s trip to Washington aims to secure terms that could avert the tariffs set to take effect on August 1.
• The deal supports the European Union’s strategy to diversify gas supplies away from Russian pipelines following Russia’s 2022 invasion of Ukraine.
• Expansion of U.S. LNG export capacity and previous agreements with European buyers underscore energy’s growing role in U.S.-EU trade diplomacy.