Home / Business and Economy / US Bank Fuels Global Energy Race: $100B Push
US Bank Fuels Global Energy Race: $100B Push
23 Nov
Summary
- US Ex-Im Bank to invest $100 billion for global energy dominance.
- Focus on critical minerals, nuclear, and LNG to counter China and Russia.
- Early deals include Egypt gas, Pakistan mine, and European LNG projects.
The US Export-Import Bank is set to invest $100 billion, aiming to achieve global energy dominance and strengthen Western supply chains. The initiative, spearheaded by new chair John Jovanovic, prioritizes critical minerals, nuclear energy, and liquefied natural gas to counter dependence on China and Russia.
This strategic financial push includes substantial initial deals, such as a $4 billion credit guarantee for natural gas to Egypt and a $1.25 billion loan for a copper and gold mine in Pakistan. These moves underscore the bank's renewed vigor and its commitment to broadening US energy influence worldwide.
The bank's increased focus on energy security and LNG exports marks a notable shift from its previous emphasis on renewable energy. It is also actively exploring investments in nuclear projects and uranium mining, further diversifying its portfolio to secure essential resources and energy stability for allied nations.
