EU pens US gas contract to curb reliance on Russia
The US and EU have announced a new contract on liquefied natural gas (LNG) aimed at reducing Europe’s reliance on Russian energy imports.
The agreement, unveiled by Biden and European Commission President Ursula von der Leyen at a news conference in Brussels, will see the US supply the bloc with at least 15 billion additional cubic meters of fuel this year.
“This will replace the LNG supply we currently receive from Russia,” von der Leyen said.
She added the EU will work with member states to also ensure they can receive at least 50 bcm of additional LNG until 2030.
About 10% of the EU’s gas needs are met by production within the bloc. Russia typically supplies about 41% of the rest of the LNG used by its member states.