US to supply EU with gas to help overcome Russian dependence

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Us To Supply Eu With Gas To Help Overcome Russian Dependence Us To Supply Eu With Gas To Help Overcome Russian Dependence
US will supply 15 bcm of additional LNG to Europe in 2022
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Thomson Reuters

The United States will work to ensure it supplies 15 billion cubic metres (bcm) of liquified natural gas (LNG) to European Union markets this year, as Europe seeks to wean itself off Russian gas supplies, according to a document seen by Reuters.

US President Joe Biden and European Commission President Ursula von der Leyen will on Friday announce the formation of a task force on Friday to reduce Europe's dependence on Russian fossil fuels following Russia's invasion of Ukraine.

Russia is the EU’s top gas supplier, sending a total 155 bcm of gas to the EU in 2021. Most of that came through pipelines, and 15 bcm was LNG.

The Commission will also work with EU countries to ensure they can receive about 50 bcm of additional LNG until at least 2030, the document said.

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EU leaders are due to agree on Friday, the second day of their summit, to “work together on the joint purchase of gas, LNG and hydrogen” ahead of next winter, and coordinate filling gas storage.

Those moves are aimed at building up a supply buffer of non-Russian gas. The EU’s executive European Commission would lead negotiations pooling demand and seeking gas, following a model the bloc used to buy Covid-19 vaccines. - Reuters

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