It looks like Trump has finally managed to convince Merkel to accept US imports of Liquid Natural Gas!
From the WSJ:
This isn’t just a one-and-done by Merkel’s government either. This is a long-term commitment on their part:
The project had been stalled for years, but Trump has lobbied hard for Europe to increase LNG purchases from the U.S. while reducing their reliance on Russia.
Germany gets most of its gas from Russia, and American efforts to open its market to U.S. companies has stalled due to lack of government support.
Merkel told lawmakers that the decision to co-finance the LNG terminal was “strategic” and could pay off in the long term, people familiar with the meeting told the Journal.
A German government spokesman told the Journal that the move was made because of Germany’s economic interests, not U.S. pressure.
Merkel said in her conversation with lawmakers that the government support for the terminal will likely have to continue for the long term and that the terminal will likely not break even for at least 10 years.
You can bet that Russia won’t be happy about this. As the WSJ notes above, Trump is trying to loosen Russia’s grip on the energy market in Europe and it looks like he’s succeeding!