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US to supply more liquefied gas to EU under new deal

PoliticsUS to supply more liquefied gas to EU under new deal

Brussels (Times Of Ocean)- The United States and Europe announced a deal on Friday to provide more liquefied natural gas to the bloc to reduce its dependence on Russian gas imports.

“The United States together with international partners are going to work to ensure an additional 15 billion cubic meters of liquefied natural gas (LNG) for Europe this year,” US President Joe Biden announced at a joint news conference with EU Commission head Ursula von der Leyen.

By the end of this year, the European Union intends to reduce its dependence on Russian energy and cut its gas imports by two-thirds.

As part of the agreement, the US will also strive to supply 50 billion cubic meters of LNG annually by 2030.

The EU’s decision to eliminate Russian gas will be costly, but Biden stressed: “It’s the right thing to do from a moral standpoint, and it will put us on a much better strategic footing.”

Furthermore, Von der Leyen underlined that switching to renewable energy in the long run will strengthen the EU’s climate neutrality efforts if Russian gas and fossil fuels are phased out.

Biden took part in the EU leaders’ summit on Thursday to discuss a coordinated response to the Russian military aggression against Ukraine.

The leverage Russia has over the EU in regards to energy supplies has emerged as a potential sticking point in the bloc’s ability to impose sanctions when needed, such as over Russia’s war in Ukraine.

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