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The US and the EU announced the creation of a task force aimed at reducing Europe’s dependence on Russian fossil fuels against the backdrop of Moscow’s war against Ukraine.
The initiative, introduced by President Joe Biden and European Commission President Ursula Von der Leyen, will see the US working with its partners to supply Europe with 15 billion cubic meters of liquefied natural gas this year. Von der Leyen explained that the reasons for this decision Russian gas.
“We, as Europeans, want to diversify the ways of getting rid of Russian gas, and turn to suppliers who are our friends and are stable. That’s why the United States’ commitment to the EU with an additional 15 billion cubic meters of liquefied natural gas this year is a major step forward.Said Von der Leyen.
The move comes amid repeated calls for the bloc to halt major Russian energy exports to punish President Vladimir Putin for his invasion of Ukraine.
The Baltic states and Poland have called for immediate secession, but some others, including Germany’s economic power, remain reluctant given their dependence on Russian gas imports.
However, even Berlin announced that it is drastically reducing energy purchases from Russia, Russian oil imports will be halved by June while coal purchases will be completed by autumn.
The US is the largest producer of liquefied natural gas in the world. According to Rystad Eenergy data, about 24% of US LNG exports were to Europe during 2021.
The problem is that its liquefied gas terminals have a limited capacity to absorb extra quantities of LNG from the United States or other important manufacturers, in the event of a disconnection from Russian gas.
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