The U.S. and EU pledged to ramp up natural gas shipments to Europe to help wean it off of Russian energy, but it wasn’t clear where they'd get the extra fuel supplies
President Joe Biden listens as European Commission President Ursula von der Leyen speaks in Brussels on March 25, 2022.President Joe Biden and European Commission President Ursula von der Leyen on Friday pledged to ramp up liquefied natural gas shipments to Europe to help the continent wean itself off of Russian energy, but it wasn’t immediately clear where they would get the extra fuel supplies.
EU countries have been scrambling to source new supplies of LNG to replace gas shipments from Russia, which totaled more than 150 bcm last year — about 10 times the volumes Biden and von der Leyen said they were seeking on Friday. Under the initiative announced Friday, Europe will build new LNG infrastructure to accommodate the additional flows, according to a senior administration official.
“This has been an active conversation among multiple parties and again, where the market is looking to move those existing volumes and so you know, whether or not to use a U.S. cargo or an Asian cargo. We don’t have the specifics to share with you today,” the official said. The U.S. and EU announced that a new task force will simultaneously work to reduce overall gas demand to align with the U.S. and EU’s shared climate goals, including by expanding energy efficiency initiatives and renewable energy development.
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