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President Donald Trump (R) and European Commission President Jean-Claude Juncker (L) deliver a joint statement on trade in the Rose Garden of the White House July 25, 2018. Photo: Win McNamee via Getty Images

President Trump emerged from a trade-focused meeting with European Commission President Jean-Claude Juncker and said Europe will become a "massive" buyer of U.S. liquefied natural gas.

Reality check: Thus far, Asian countries and Mexico have been the main buyers of U.S. LNG as the industry has emerged in recent years, but there's room for growth in Europe as exports rise and new projects come online. But while boosting gas exports to Europe is a goal that dates back years, some analysts say there's reason to doubt that the continent will ever become a huge destination for U.S. cargoes, given its closer and less expensive options.

The intrigue: However, LNG from the U.S. and elsewhere can still affect European energy markets and geopolitics. The growth of global LNG trade provides more supply options, giving Europe more commercial leverage with Russia, a huge supplier of gas, and helping to force Gazprom into concessions.

What they're saying: "U.S. LNG is competitive in Europe on the spot market when the price is low, as it is now. In the future it will be hard to compete with piped gas from Russia and closer sources of LNG," David Goldwyn, a former senior State Department energy official and now head of the consultancy Goldwyn Global Strategies, tells Axios.

"[A]s soon as the Russians get greedy, U.S. LNG provides a ready substitute. U.S. LNG has made the global gas market competitive. But it is unlikely we will export vast quantities of LNG to Europe unless the Russians overreach. If they do we will quickly take their market share."
— David Goldwyn

Go deeper: Trump and EU call trade war truce.

Go deeper

21 mins ago - Health

Boris Johnson announces month-long COVID-19 lockdown in U.K.

Prime Minsiter Boris Johnson. Photo: NurPhoto / Getty Images

U.K. Prime Minister Boris Johnson on Saturday outlined his plan for the country's second coronavirus lockdown as the nation topped the 1 million case mark, per Johns Hopkins University data.

Details: Starting Thursday, people in England must stay at home, and bars and restaurants will close except for takeout. All non-essential retail will also be shuttered. Inter-mingling between households and outbound international travel or out-of-home boarding will be prohibited. The new measures will last through at least December 2.

Updated 1 hour ago - Politics & Policy

The massive early vote

Illustration: Sarah Grillo/Axios

Early voting in the 2020 election across the U.S. on Saturday had already reached 65.5% of 2016's total turnout, according to state data compiled by the U.S. Elections Project.

Why it matters: The coronavirus pandemic and its resultant social-distancing measures prompted a massive uptick in both mail-in ballots and early voting nationwide, setting up an unprecedented and potentially tumultuous count in the hours and days after the polls close on Nov. 3.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Ipsos poll: COVID trick-or-treat.
  2. World: Greece tightens coronavirus restrictions as Europe cases spike — Austria reimposes coronavirus lockdowns amid surge of infections
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Technology: Fully at-home rapid COVID test to move forward.
  5. States: New York rolls out new testing requirements for visitors.