Illustration
EU-US Strike Landmark Energy and Trade Deal
The European Union (EU) and the United States have reached a landmark trade agreement worth up to $750 billion, marking a significant step in efforts to reduce reliance on Russian energy and strengthen transatlantic economic ties.
As announced by European Commission President Ursula von der Leyen on July 27, the EU will replace Russian gas and oil imports with increased purchases of liquefied natural gas (LNG), crude oil, and nuclear fuel from the US over the next three years.
“Procuring energy from the US diversifies our supply sources and contributes to energy security in Europe,” emphasized von der Leyen. The EU aims to achieve complete independence from Russian hydrocarbons by 2027.
Beyond energy, the deal includes a 15% uniform tariff on most EU exports to the US, covering key sectors such as automobiles, semiconductors, and pharmaceuticals. A “zero-for-zero” tariff agreement has also been reached for strategic items like aircraft and parts, specialized chemicals, semiconductor manufacturing equipment, raw materials, and select agricultural goods.
This agreement is part of the EU’s long-term strategy to ensure energy security and stable fuel supplies, as the continent remains significantly dependent on Russian energy despite efforts to reduce this reliance following the Russia-Ukraine conflict.
India, another major oil importer, has also asserted its ability to adapt its supply sources if faced with secondary sanctions on Russia. India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, expressed confidence in the country’s ability to meet its oil demands through alternative sources.
The EU-US deal is expected to reshape global energy trade dynamics and increase US economic influence in Europe amid ongoing geopolitical turmoil. Russia’s gas exports to the EU have declined sharply, from around 45% market share in 2021 to an expected 18% in 2024. Russia’s energy revenue in Q2 2025 fell 18% year-over-year, the lowest since the conflict began, despite a slight increase in export volume compared to Q1 2025.
The Ultimate Player in the Global Gas Market: Who Will Reign Supreme in 2024?
This nation continues to surpass Australia and Qatar, dominating the global LNG market.
Powering Connections: Energizing the 500kV Nhon Trach 4 – Phu My – Nha Be Route
The National Power Transmission Corporation (EVNNPT) and the Southern Power Projects Management Board (SPMB) successfully energized the 500kV Nhon Trach 4 – Phe My – Nha Be power line project on the evening of December 27, in collaboration with relevant units.
“Petrovietnam: Leading the Charge for Accelerated, High-Impact, Double-Digit Growth”
Petrovietnam, as a prominent state-owned enterprise, plays a pivotal role in Vietnam’s socioeconomic development. The company’s contributions are integral to ensuring the five key pillars of national security: energy security, food security, economic security, social welfare, and the sovereignty of our maritime territories.
“LNG Power Producer Seeks Direct Access to Consumers, Bypassing EVN”
The LNG-to-power plants aim to sell electricity directly to large industrial consumers, such as factories and industrial parks. With their efficient and reliable power generation capabilities, these plants offer a competitive advantage to energy-intensive industries, ensuring a stable and consistent supply of electricity. By bypassing the traditional utility providers, these plants can offer competitive pricing and tailored energy solutions to their industrial customers, revolutionizing the way energy is consumed and empowering businesses with greater control over their energy costs and sustainability practices.
“UK-Vietnam Nuclear Energy Partnership: A Brighter Future Ahead”
Vietnam needs to conduct thorough research and evaluations when choosing the right partners and technologies, especially when assessing economic and technical feasibility.
