US to supply more liquefied natural gas to the EU


United States (US) will increase the supply of liquefied natural gas to the European Union (EU), under an agreement reached this Thursday between the two powers, which aims to help reduce dependence on the supply of fossil fuels from Russia. The pact will be formalized this Friday, within the framework of the European Council that is being held these days in Brussels.

This was announced by the President of the European Commission, Ursula von der Leyen, upon her arrival at the summit of EU leaders, who, among other issues, will study possible solutions to the energy crisis that has been dragging Europe down for months, which it has been aggravated by the Russian invasion of Ukraine.

“Tomorrow, with Biden, we will introduce a new chapter in our energy partnership: additional liquefied natural gas from the United States to the European Union for replace the liquefied natural gas we have from Russia. An important step forward”, has detailed the president of the Community Executive, who has insisted since the beginning of the invasion of Ukraine that ending dependence on Russian gas was one of the best ways to isolate Vladimir Putin’s regime. Precisely Russia supplies 40% of the gas it consumes to Europe.

40% of the gas consumed in Europe comes from Russia

The agreement dates back to the end of last January, when the United States and the European Union sealed a pact to guarantee the energy supply to the community market in the face of the possibility of breaking with Russia in the midst of an escalation of tensions. Von der Leyen and Biden signed, at that time, a statement that committed to energy security and sustainability, as well as the acceleration towards clean energies. It will be ratified this Friday.

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Divide between the European economies

After having participated in the G7 summit, where the world’s most industrialized countries have decided to restrict Russia’s gold sales and reduce their dependence on Moscow for energy, the president of the Community Executive has pointed out that “energy will be an important issue in the European summit”, while ensuring that “the main objective” is the joint purchase of gas in order to gain influence with “the power of the European market”, as well as the joint storage of this energy source.

This is the only measure that the Twenty-seven agree with. And it is that the European Heads of State and Government are divided on what is the ideal recipe in the short term to put a stop to the escalation of gas and electricity: Spain and the southern countries defend imposing price caps, while Germany, Holland and the Nordics maintain their frontal opposition to any intervention in the electricity market.

The Spanish Executive, which has been demanding for weeks “a common and ambitious response” to the frenetic increase in gas and electricity prices, entrusts everything to the package of measures that comes out of this conclave, since the shock plan will depend on it that he will present on March 29 to ease the discontent on the street.Speaking upon his arrival at the European Council in Brussels, Sánchez said that what he is looking for is “a solution for all” in the face of the current energy crisis, but given that ” this may take a few weeks”, what Spain and Portugal propose is that they can respond to the “particularity” of these two countries, being an energy island” and having a “minimal interconnection with the European energy market below 3% “.

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The worst result would be for the decision to be postponed again, as happened in December, to the next summit scheduled for May. The leaders would thus wait for the Agency for the Cooperation of Energy Regulators (ACER) to present its final report on the reform of the electricity market in April before committing to any step. In that case, the Government has confirmed that Spain would take the necessary measures in the event that the EU did not.


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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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