WEMO 2025 (complet) - Flipbook - Page 48
W E M O 202 5
O U T LO O K
https://www.eia.gov/todayinenergy/detail.php?id=64844#:~:text=The%20United%20States%20
remained%20the%20world's%20largest%20lique昀椀ed%20natural%20gas%20exporter%20in%20
2024,-Data%20source%3A%20U.S.&text=The%20United%20States%20exported%2011.9,the%20
world's%20largest%20LNG%20exporter.
351
https://www.reuters.com/business/energy/
lng-companies-hail-trump-decision-lift-freeze-export-permits-2025-01-22/
352
https://www.reuters.com/business/energy/
trump-doe-approves-venture-global-lng-exports-louisiana-project-2025-03-19/
353
89 MTPA of LNG is approximately 122.82 bcm per annum.
354
https://www.jpmorgan.com/insights/global-research/commodities/lique昀椀ed-naturalgas#:~:text=Overall%2C%20J.P.%20Morgan%20Research%20forecasts,oversupplied%20
market%2C%E2%80%9D%20Chaturvedi%20said.
350
355
https://www.power-technology.com/news/
edf-stake-sale-north-american-brazilian-business/?cf-view
356
In 2024, EDF Renewables reported a net loss of €1.45 billion on a turnover of €2.4 billion https://
tecsol.blogs.com/mon_weblog/2025/07/edf-veut-all%C3%A9ger-sa-pr%C3%A9sence-dans-lesrenouvelables-en-am%C3%A9rique-selon-les-%C3%A9chos.html
357
Engie, through its joint venture with EDPR, has delayed the Southcoast Wind project in
Massachusetts and Rhode Island
358
https://www.engie.com/sites/default/昀椀les/assets/documents/2025-03/ENGIE%20FY%20
2024%20-%20Transcript.pdf
359
https://www.investing.com/news/stock-market-news/
rwe-has-stopped-o昀昀shore-wind-activities-in-united-states-4003885
360
https://www.o昀昀shorewind.biz/2025/05/13/equinor-situation-for-empire-wind-unsustainablewe-need-to-昀椀nd-way-forward-for-project-quickly/#:~:text=o昀昀shoreWIND.biz-,Equinor:%20
'Situation%20for%20Empire%20Wind%20Unsustainable%2C%20We%20Need%20to,Way%20
Forward%20for%20Project%20Quickly'&text=Following%20reports%20saying%20Equinor%20
may,the%20project%20moving%20again%20quickly.&text=%E2%80%9CThe%20situation%20
for%20the%20Empire,work%20order%20was%20not%20lifted.
RWE, Germany’s largest power producer, that holds three
o昀昀shore wind leases in U.S. waters o昀昀 the coasts of New
York, Louisiana and California, halted all U.S. o昀昀shore wind
activities, with very large negative 昀椀nancial impacts.359
Also, Norwegian utility, Equinor said it would halt
o昀昀shore construction of its Empire Wind I project o昀昀
the coast of New York because it received a stop-work
order. 360
√ U.S. tari昀昀s on Chinese clean tech 昀椀rms are pushing
them to expand internationally. To circumvent U.S.
tari昀昀s on clean tech products, Chinese companies
are redirecting sales to Europe, despite stricter EU
regulations, and to developing nations at potentially
reduced prices. After lengthy negotiations, as of June
2025, US tari昀昀s are ranging from 25 to 100% across
clean tech goods e.g.: electric vehicles at 100%, solar
cells at 50%, Lithium-ion electrical vehicle batteries
at 25%, thus increasing the costs for US citizens.
To dodge those tari昀昀s Chise companies have
established plants in Southeast Asia. Goods from those
countries now dominate solar panel supplies in the
U.S. as Chinese-made products have nearly vanished.
Following a yearlong investigation, in April 2025 the US
commerce department has announced the new tari昀昀s
up to 3,521%,361 targeting companies in those countries.
https://www.energyconnects.com/news/renewables/2025/april/
us-imposes-tari昀昀s-up-to-3-521-on-asian-solar-
WEMO 2025
√ Increasing US LNG exports could create a surplus
on the international gas market. The US is
presently the largest worldwide LNG exporter
with around 20% of the global LNG exports.350
The Trump administration’s lifting of the Biden-era
pauses on LNG export permits, enacted on January
20, 2025, is projected to signi昀椀cantly increase U.S. LNG
exports351,352. The Department of Energy approved the
Commonwealth LNG project in Louisiana, adding 9.5
million metric tons per annum (MTPA) to export capacity
as early as 2026. Estimates are at nearly 100 MTPA in
additional capacity by 2031 from advanced projects,
nearly doubling current exports of approximately
88.4 MTPA 353 in 2024. Selling this new amount of LNG
could prove di昀케cult as countries like Qatar are also
increasing their LNG capacities354.This is probably one
of the underlying reasons of the inclusion of a clause,
in the US-EU tari昀昀 agreement, mandating increased EU
purchases of American energy (see below).
√ The US policy on wind o昀昀shore is negatively impacting
European Companies This policy shift, targeting
projects like Atlantic Shores and Beacon Wind,
has 昀椀nancial repercussions on European o昀昀shore
developers such as Ørsted and some major European
energy companies including EDF, Engie, and RWE.
EDF recorded a $940 million write-o昀昀 on its Atlantic
Shores project o昀昀 New Jersey after partner Shell
withdrew, citing the new administration’s hostility to
o昀昀shore wind. It is seeking to divest from its renewable
assets in the US and Brazil after big losses in 2024.355,356
Another French utility, Engie, through its joint
venture with the Portuguese EDP Renewables,
has delayed the Southcoast Wind project in
Massachusetts
and
Rhode
Island357,
pushing
construction from 2024 to 2029 due to regulatory
uncertainties. In its 2024 accounts, it has depreciated
its US o昀昀shore assets by more than €100 Million358.
361
47
• Global impact of US energy policy:
