President Donald Trump told 12 Central and Eastern European leaders that the U.S. "will never use energy to coerce your nations," as he pitched U.S. natural gas exports to replace Russian supplies, CNBC reported.
Trump made a thinly veiled dig at Russia in telling Poland and its neighboring countries that the U.S. will ensure they are never "held hostage" to a single energy supplier before telling Moscow to "cease its destabilizing activities in Ukraine and elsewhere and its support for hostile regimes."
The President's administration has prioritized shipping abundant and low-cost liquefied natural gas to Europe. Poland received its first U.S. LNG shipment last month from Cheniere Energy Inc (LNG) .
Because LNG is difficult to ship and because Russia can cut prices and adjust contract terms in the European gas market, it's not likely that U.S. energy will replace Russian energy in Central and Eastern Europe.
What's Hot On TheStreet
Apple is OK for the time being: For those silently worrying how the Apple (AAPL) iPhone 8 will sell, simmer down -- the tech giant still has several huge advantages. On the hardware side, for instance, the iPhone still feels ahead of the pack thanks not only to Apple's design skills and the visible features of its hardware, but also what's under the hood points out TheStreet's tech columnist Eric Jhonsa. From the looks of things, the iPhone 8 should extend that lead, Jhonsa predicts.
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