After concluding a trade agreement with Washington in August, the EU did increase the physical volumes of US liquefied natural gas it purchased. Falling oil and gas prices, however, meant that the total value of imports was lower than over the same period last year.

Jillian Boccara, a senior director at Kpler, said the non-binding nature of the trade agreement has had little impact on additional purchases of US commodities.

She noted that energy supply contracts are concluded on a bilateral basis and driven by economic considerations—including shipping costs and margins—rather than political statements. She also stressed that the announced volume of purchases is “unrealistic”.