EU and US sign LNG deal to wean bloc off Russian energy
The EU and the US have signed a liquified natural gas (LNG) deal in a bid to reduce reliance on Russian energy.
The new agreement will see the US provide the EU with at least 15 billion additional cubic metres of LNG by the end of the year, the BBC reported.
The bloc has already said it will cut Russian gas use in response to Russia's invasion of Ukraine. Russia currently supplies about 40% of the EU's gas needs.
Cutting reliance will mean increasing imports and generating more renewable energy.
The longer-term aim is to ensure, until at least 2030, about 50 billion cubic metres per year of additional US gas.
The deal was announced on March 25 during a three-day visit by US President Joe Biden to Brussels.
Biden and European Commission President Ursula von der Leyen discussed Russia's invasion of Ukraine and offered fresh support to Kyiv.
Russia's war with Ukraine has helped push energy prices to record highs.
Energy prices were already rising before the invasion as economies started to recover from the Covid crisis.
The Ukraine invasion prompted the EU to pledge to cut Russian gas use by two-thirds this year by hiking imports from other countries and boosting renewable energy.
The White House said that greater energy efficiency can be immediately achieved through increasing the use of smart thermostats and heat pumps.
The EU said that reductions through energy savings in homes can replace 15.5 billion cubic metres this year and that accelerating wind and solar deployment can replace 20 billion cubic metres.
The EU's goal is to save 170 billion cubic metres by 2030 through energy efficiency and by using renewable energy.
The new agreement will see the US provide the EU with at least 15 billion additional cubic metres of LNG by the end of the year, the BBC reported.
The bloc has already said it will cut Russian gas use in response to Russia's invasion of Ukraine. Russia currently supplies about 40% of the EU's gas needs.
Cutting reliance will mean increasing imports and generating more renewable energy.
The longer-term aim is to ensure, until at least 2030, about 50 billion cubic metres per year of additional US gas.
The deal was announced on March 25 during a three-day visit by US President Joe Biden to Brussels.
Biden and European Commission President Ursula von der Leyen discussed Russia's invasion of Ukraine and offered fresh support to Kyiv.
Russia's war with Ukraine has helped push energy prices to record highs.
Energy prices were already rising before the invasion as economies started to recover from the Covid crisis.
The Ukraine invasion prompted the EU to pledge to cut Russian gas use by two-thirds this year by hiking imports from other countries and boosting renewable energy.
The White House said that greater energy efficiency can be immediately achieved through increasing the use of smart thermostats and heat pumps.
The EU said that reductions through energy savings in homes can replace 15.5 billion cubic metres this year and that accelerating wind and solar deployment can replace 20 billion cubic metres.
The EU's goal is to save 170 billion cubic metres by 2030 through energy efficiency and by using renewable energy.
