The US and EU last week announced a breakthrough deal to wean Europe off Russian natural gas. The “groundbreaking” pact, said Joe Biden, would strip Vladimir Putin of the ability to “coerce and manipulate” the continent’s energy consumers.
The “joint game plan” involves three steps. First, the US will help the EU secure short-term liquefied natural gas supplies to begin displacing Russian gas. Second, Europe will work “toward the goal of ensuring” a bigger market for US gas by 2030. Third, the US would help Europe accelerate its transition to clean energy, eventually reducing its gas demand.
How much more gas has the US offered?
The US said it would strive to add 15bn cubic metres of liquefied natural gas to the EU this year, with more in years to come. It did not specify the origins of the gas, noting it would “work with international partners”.