EU strikes gas deal with the U.S. as it seeks to cut its reliance on Russia

U.S. President Joe Biden and European Commission’s President Ursula von der Leyen shake hands after speaking about steel and aluminium tariffs, on the sidelines of the G20 leaders’ summit in Rome, Italy October 31, 2021.
Kevin Lamarque | Reuters

The U.S. said Friday it will work with international partners to provide at least 15 billion cubic meters more of liquified natural gas to Europe this year, seeking to end the bloc’s dependence on Russian energy exports following the Kremlin’s invasion of Ukraine.

U.S. President Joe Biden and European Commission President Ursula von der Leyen announced the formation of a joint task force to bolster energy security for Ukraine and the EU for next winter and the following one.

The “Task Force For Energy Security” will be chaired by a representative from the White House and a representative of the European Commission, the EU’s executive branch.

The primary goals of the task force, the U.S. and EU said in a joint statement, would be to diversify LNG supplies in alignment with climate objectives and reduce demand for natural gas.

It comes amid heightened concern that energy-importing countries continue to top up President Vladimir Putin‘s war chest with oil and gas revenue on a daily basis.

At present, the EU receives roughly 40% of its gas via Russian pipelines and several of which run through Ukraine.

This is a breaking news story, please check back later for more.

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