US increases natural gas exports to UK


The United States will increase liquefied natural gas exports to Britain under a new deal that calls for the two countries to work together to boost energy security and lower prices in the wake of Russia’s invasion of Ukraine.

President Joe Biden and British Prime Minister Rishi Sunak announced the agreement on Wednesday as part of a larger effort to reduce global dependence on Russian energy exports, stabilize Western energy markets and strengthen cooperation on energy efficiency, nuclear energy and renewable energy. The UK-US energy security and affordability partnership will be led by a new team led by senior UK and White House officials.

Under the deal, the US commits to exporting at least 9 to 10 billion cubic meters of liquefied natural gas, or LNG, next year through UK terminals – more than double its exports by 2021. U.S. gas to Europe surged after Russia’s invasion of Ukraine in February. In a statement, the White House and prime minister’s office said the new pledge “will be good for both the UK and our European partners as we look to replenish our gas reserves next year”.

“During this global energy crisis caused by Russia’s illegal invasion of Ukraine, it is more important than ever for our allies to strengthen cooperation to ensure resilient international systems respond to this crisis. reflect our shared values,” Biden and Sunak said in a joint statement.

The leaders said, working with allies, the US and UK are “committed to strengthening cooperation to support international energy security, affordability and sustainability, as Europe declines” dependence on Russian energy”.

The effort comes after the Group of Seven major industrialized nations, the European Union and Australia last week imposed a price ceiling of $60 per barrel on Russian oil, in an attempt to prevent a price spike and make the General Russian President Vladimir Putin is not funding his war in Ukraine.

U.S. Assistant Treasury Secretary Elizabeth Rosenberg said on Tuesday that Russia’s invasion of Ukraine “has created uncertainty that has sent oil prices up” from a pre-invasion average of $70 a barrel to $70 a barrel. higher than 140 USD/barrel.

As a result, “Russia has reaped the boon of soaring oil prices – which has allowed it to finance brutal military operations and perpetuate the illegal and unjust war against Ukraine.” , while the rest of the world has to bear the cost of higher energy prices,” she said. The price cap is designed to “limit Russia’s ability to profit from its aggression, while promoting global energy stability by keeping oil,” Rosenberg said at an anti-corruption conference. of Russia is present on the market”.

The discounted prices took effect on Monday, just in time for the EU to embargo Russian oil shipped by sea and ban insurance for those supplies. The price cap, led by the G-7 wealthy democracies, is aimed at preventing a sudden Russian loss of oil that could lead to a new energy price spike and further fuel inflation.

In the bilateral agreement, the US and UK governments pledge to work “actively” to identify and resolve any problems that exporters and importers face, and work to reduce global dependence on Russian energy.

The two countries will also seek to accelerate the development of so-called clean hydrogen derived from natural gas and renewable sources, as well as promote nuclear energy as a safe energy source.


Associated Press writer Fatima Hussein contributed to this story.

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