Under new deal, US to supply more liquefied gas to EU

BRUSSELS

The EU and US announced on Friday a new deal to supply extra liquefied natural gas for the bloc to curb the bloc’s dependence on Russian 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.

The deal is part of the European Union’s plan to reduce dependence on Russian energy and cut gas imports by two-thirds by the end of this year.

Under the agreement, the US will also work to ensure the annual supply of an additional 50 billion cubic meters (bcm) of LNG by 2030.

Eliminating Russian gas will have a cost for the EU, said Biden, but also stressed: “It's not only the right thing to do from the moral standpoint, it's going to put us on a much stronger strategic footing.”

Von der Leyen also underlined that phasing out Russian gas and fossil fuels in general and replacing them in the long term with renewables will reinforce the EU’s efforts to achieve climate neutrality.

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

Russia’s leverage over the EU in terms of energy supplies has emerged as a potential sticking point in ensuring the bloc can impose sanctions when needed, as over Russia’s war on Ukraine.