LNG producers jump as EU commits to big purchases

Shares of U.S. liquefied natural gas developers are on the rise on Monday after the European Union pledged to purchase $750B worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. Venture Global (VG) and Cheniere (LNG) are among the early risers on the heels of the trade deal, with the EU pledging $750B worth in strategic purchases, covering oil, gas, and nuclear fuel, during President Trump’s term in office. Of note, the trade agreement imposes a better-than-feared 15% U.S. import tariff on most EU goods. Back in 2023, the U.S. became the world’s biggest LNG supplier as the country surpassed Australia and Qatar. PRICE ACTION: Shares of Venture Global and Cheniere are up about 3% at $15.04 and $231.93, respectively. Uranium miner Energy Fuels (UUUU) is also trading higher in Monday morning trading.