In an effort to lessen Europe’s dependency on Russian energy, the US and the EU have signed a huge deal on liquefied natural gas.
By the end of the year, the US will have provided Europe with additional gas, almost equal to 10% of the gas it presently receives from Russia. In reaction to Russia’s invasion of Ukraine, the country has already stated that it will reduce its usage of Russian gas. Russia presently supplies over 40% of the European Union’s gas requirements.
On top of last year’s 22 billion cubic metres of gas, the US and other nations will contribute an additional 15 billion cubic metres under the new agreement. The increased amount will account for around 24% of Russia’s current gas imports.
The ultimate goal is for the US and foreign allies to provide Europe with around 50 billion cubic metres of water per year. To reduce dependency on Russia, more renewable energy will be generated, energy efficiency will be improved, and imports will be increased.
The agreement was revealed on Friday during US Vice President Joe Biden’s three-day visit to Brussels. Mr Biden and European Commission President Ursula von der Leyen talked about Russia’s invasion of Ukraine and promised Kyiv more help. Mr Biden told reporters in Brussels that “Putin is exploiting Russia’s energy riches to force and manipulate its neighbours.” “He’s put the money into his military machine.”