ExxonMobil (NYSE:XOM) expects the European Union to sign multi-decade contracts for U.S. gas as part of a pledge to purchase $750 billion of American energy by 2028, a move to strengthen transatlantic energy ties, the Financial Times reported.
Europe was now “the most important market” for US LNG exports, and the next step would be for the continent “to figure out how it supports long-term contracting,” said Peter Clarke, senior vice-president of Exxon’s liquefied natural gas business, according to the report.
“That is a development I think that’s coming down the track,” he added.
While LNG imports from Asia have decreased this year, those from Europe have jumped. “The data shows a significant rise in LNG imports to Europe, up roughly 20% year over year,” Clarke said, noting that the U.S. accounted for 55% of the imports.
U.S. Energy Secretary Chris Wright said earlier this week that Europe should stop buying Russian gas if it wanted more severe U.S. sanctions against Moscow. “You want to have safe energy providers who are your friends, not your enemies,” he told FT.
In July 2025, the EU agreed to buy $750 billion worth of U.S. energy by 2028 as part of a broader trade agreement, targeting less dependence on Russian supplies.