HIGHLIGHTS
- The United States will collaborate with international partners to supply Europe with at least 15 billion cubic meters of liquefied natural gas this year.
- By 2030, the US wants to supply the EU with an additional 50 billion cubic meters of LNG.
- US President Joe Biden and European Commission President Ursula von der Leyen announced the establishment of a joint task factor in enhancing Ukraine’s and the EU’s energy security this winter and beyond.
FULL ARTICLE
The United States and the European Union have reached a groundbreaking agreement
The US and the EU placed a series of sanctions on Russia shortly after Russia attacked Ukraine. As a result of this action, Russia has closed off gas pipelines to Europe. Russia’s move has put the world energy market, and the EU in particular, into disarray.
Faced with a potentially dangerous situation, the EU has had to find new gas suppliers fast in order to minimize its reliance on Russia, which supplies 40% of Europe’s gas. The EU and the US recently struck a big gas agreement. Specifically, the United States will collaborate with international partners to supply Europe with at least 15 billion cubic meters of liquefied natural gas this year. By 2030, the US wants to supply the EU with an additional 50 billion cubic meters of LNG.
President Joe Biden described the agreement as a “groundbreaking” step to “strengthening energy security, economic security, and national security”. Furthermore, he stated that this “handshake” has aided the US and EU in strengthening their relationship and bringing them closer together.
Establishing a task force on energy security
On March 25, US President Joe Biden and European Commission President Ursula von der Leyen announced the establishment of a joint task factor in enhancing Ukraine’s and the EU’s energy security this winter and beyond.
According to a statement placed on the White House website, the energy security task force would be led by representatives from the White House and the European Commission, the EU’s executive department.
The task force will focus on two key goals. The first is to diversify LNG (Liquefied natural gas) supply in accordance with climate goals, and the second is to minimize natural gas demand.
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