ExxonMobil anticipates that the European Union will sign multi-decade agreements to purchase U.S. liquefied natural gas (LNG), following the EU’s commitment to buy $750 billion of American energy by 2028 under a trade deal with Washington.

A company spokesperson highlighted that long-term contracts are central to the LNG business, providing reliable supply for customers. Peter Clarke, Exxon’s senior VP for LNG, told the Financial Times that Europe’s expanding LNG infrastructure makes long-term commitments logical, noting that roughly 80% of Exxon’s LNG is sold under such agreements.

Clarke described Europe as the U.S.’s most important LNG market and said the region now needs to establish systems to support extended supply contracts. In 2024, the U.S. supplied half of Europe’s LNG imports, along with significant shares of oil and coal.

With LNG imports to Europe rising about 20% year-on-year—55% of which come from the U.S.—ExxonMobil sees long-term deals as a key part of securing energy supply for the continent.