Astora natural gas depot in Rehden
FILE PHOTO: The Astora natural gas depot, which is the largest natural gas storage in Western Europe, is pictured in Rehden, Germany, March 16, 2022. REUTERS/Fabian Bimmer

March 25, 2022

BRUSSELS (Reuters) – The United States will work to supply 15 billion cubic metres (bcm) of liquefied natural gas (LNG) to European Union markets this year, as Europe seeks to wean itself off Russian gas supplies, according to a factsheet provided by the White House.

U.S. 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.

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

It was not clear whether it referred to amounts additional to last year’s 22 bcm of U.S. exports to the European Union.

The bloc has already stepped up efforts to secure more LNG after talks with a number of supplier countries, resulting in record deliveries of 10 bcm of LNG in more than 120 vessels in January.

That month, U.S. deliveries rose to 4.4 bcm, around double the normal amount for January.

About 10% of EU gas needs are met by domestic production. Russia typically supplies some 41% of the rest of the bloc’s needs.

(Reporting by Jarrett Renshaw, writing by Philip Blenkinsop, editing by Ingrid Melander)





Source link