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Fortis Inc. (NYSE:FTS) Q4 2024 Earnings Call Transcript

EU seeks to 'immediately engage' with LNG suppliers, draft shows

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The European Union will consider investing in liquefied natural gas (LNG) projects abroad as part of plans to "immediately engage" with reliable suppliers to try to lower energy prices, a draft Commission document showed on Tuesday.
The European Union is actively seeking to engage with global LNG suppliers to secure long-term contracts and ensure energy security, as outlined in a draft document seen by Reuters on February 18, 2025. This initiative comes in response to the ongoing energy crisis exacerbated by geopolitical tensions, particularly the reduction in Russian gas supplies. The EU aims to diversify its energy sources, reduce dependency on any single supplier, and stabilize energy prices through these negotiations. The draft emphasizes the importance of building strategic partnerships with countries like the United States, Qatar, and Australia, which are major LNG exporters. Additionally, the EU is looking into enhancing its infrastructure for LNG imports, including expanding regasification terminals, to handle increased volumes of LNG, thereby ensuring a more resilient energy supply chain.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/eu-seeks-immediately-engage-with-lng-suppliers-draft-shows-2025-02-18/ ]