TRUMP BEGS EU to BUY U.S. LNG – CANADA Says "HOLD MY BEER, Eh!🇨🇦

Added: 2026-05-22

[00:00:00]Trump started his idiotic war of choice with Iran hoping the US and himself would cash in. The result? The Strait of Hormuz gets shut down. Global energy goes into full-blown crisis.

[00:00:12]Now, Trump is pounding like the moronic American dictator he is threatening Europe with severe tariff terror if they don't buy American LNG.

[00:00:22]He is even pushing another vanity project, his so-called Trump peace pipeline through Eastern Europe serving only one, the US, aka Trump in disguise.

[00:00:34]And US exporters, they're already pocketing insane profits from Trump war while Europe bleeds.

[00:00:41]But here's the kicker.

[00:00:42]America's LNG plants are tapped out, producing full throttle with no room left. So, while Trump is busy playing energy bully, the EU has had enough and they're looking north, to us, to Canada.

[00:00:57]Let's take a look.

[00:00:59]Companies in Europe are looking to Canada to provide more liquefied natural gas products. Reuters is reporting that one of the potential buyers is Germany's state-owned Uniper, which accounts for nearly half of the country's LNG supply.

[00:01:13]Reuters says it is in talks with BC-based Kitimat LNG, that's a proposed export terminal on the West Coast. Joining us to break this down is Jeff Rubin. He's the former chief economist for CIBC World Markets. Jeff is a frequent guest on the show. Welcome back.

[00:01:28]Good to be back. Okay. Why Tell us to me about the significance that European companies are now looking to Canada to source their LNG? Right. Well, you may recall in our last conversation I noted that there would be long-run consequences from the conflict in the Middle East as customers around the world look for more secure sources of supply. And I think the US would probably be the biggest beneficiary of that shift. Well, so too is is Canada.

[00:01:57]It's trying to take advantage of that and as the fourth largest gas producer in the world, it's about time. Now, shipping, you know, BCLNG through the Panama Canal to go to Europe is a pretty circuitous route to us supplying our >> [clears throat] >> our markets.

[00:02:19]Nevertheless, it's the only way we can because as we discussed before, there are no LNG facilities on the East Coast. You may ask, is it economically viable to ship LNG through the Panama Canal to Europe?

[00:02:35]Obviously, Uniper, which is the huge giant German utility company, believes it is and you know, Germany is 96% dependent on the US for LNG and wants to diversify its supply. You know, while we have higher transport costs, you got to remember that that Western Canadian natural gas is about half the price of Henry Hub, which is the US natural gas benchmark price and that kind of price difference provides a lot of cushion to absorb higher transport costs. When we talk about transport costs, when we were I was preparing for this yesterday, I need to see it on a map. So, we had one made up so people just get a full sense of of what this route would look like to get our gas from the West Coast all the way over to Germany. But as you point out, because we sell at a less rate, this is a cost that they that they can absorb. How competitive will our product be uh which which has these extra export costs? May be lower in price, but higher export costs. It will be competitive. I mean, Uniper's decision to go ahead with that is is a confirmation of that. But it's both the solution and the problem at the same time. You know, the problem is the reason that Western Canadian gas is half the price of US gas. It's the same problem with Western Canadian oil.

[00:03:56]It has nowhere to go other than the US market, and the US, you know, take advantage of that. Like right now, we export nat gas to the US as a cheap feedstock. They make it into LNG and then ship it into ship it to Europe. So, we leave all the value added on the table. Hopefully, with uh with with this plant going ahead, and it looks like, you know, a positive final investment is imminent, you know, uh this will help to increase access to world markets and higher prices. And obviously, you know, that's that's a good news story in the ongoing saga of fulfilling Carney's dream of becoming an energy superpower because you need more than just reserves. You got to have the infrastructure. If you don't have the infrastructure, the reserves are worthless.

[00:04:51]I want to show everybody also a map of our current LNG pipelines and export terminals. I don't think this is information people have top of mind, so we made this for you. And you can see the distance that would be needed to cover to build on to the East Coast if we really wanted to capitalize on this demand. What is the business case for building a pipeline that would go from west to east look like?

[00:05:12]I mean, there is a a lot more expensive to ship Western Canadian gas from some port on the Atlantic coast than to go through the Panama Canal. I mean, that would set it as a huge transport disadvantage with with our competitors, which are US LNG plants on the Gulf Coast. So, there is a business case. Of course, we need a provincial acceptance of that, and any pipeline that would go to the Atlantic coast that would have to run through the of Quebec, which has has been enthusiastic about the project in the back.

[00:05:53]Former chief economist for CIBC World Markets, Jeff Rubin, thank you for walking all of that through with us. We appreciate it. Have a good weekend. You too. Take care.

[00:06:02]So, my friends, here's what it really means.

[00:06:05]Europe is desperate, absolutely.

[00:06:08]The Middle East supply is choked.

[00:06:11]Russian energy to the EU is to be banned by 2027, and the US can physically deliver more even if they wanted to.

[00:06:20]Now, enter Canada, the world's fourth largest LNG producer.

[00:06:26]We've got the resources, the price, and the stability. Sure, right now we're shipping BC gas through the Panama Canal.

[00:06:35]But, smart money like German's Uniper is already looking into multi-year deals with Canada.

[00:06:42]Far beyond the Trump disaster era.

[00:06:46]And Canada's next step?

[00:06:48]Building East Coast terminals to cut that trip in half.

[00:06:52]That's the plan. That's Canada stepping up.

[00:06:56]Not as America's sidekick, but Europe's real partner.

[00:07:00]Now, that's something to be excited about.

[00:07:03]So, here's today's question for you.

[00:07:05]What could Canada do to entice the province of Quebec to be more supportive about the needed LNG projects on the East Coast?

[00:07:15]Drop your answer in the comments below.

[00:07:18]And if you want more breakdowns, just like this one, clear, direct, no-nonsense, then hit the like button and subscribe to the channel.

[00:07:27]Thanks for watching. I will Fuld Lambsdorff with Europe Curious, where we don't just repeat the daily headlines, but open the curtain so you can see for yourself what's really behind it.

[00:07:41]See you in the next one.