US President Joe Biden and European Commission President Ursula van der Leyn shake hands after talking about steel and aluminum tariffs at one side of the G20 summit in Rome, Italy on October 31, 2021.
Kevin Lamarck | Reuters
The United States said on Friday that it would work with international partners to supply at least 15 billion cubic meters of liquefied natural gas to Europe this year, ending Russia’s dependence on energy exports following the Kremlin’s invasion of Ukraine.
These additional LNG levels are expected to increase further, the White House said in a statement.
It comes amid high concerns that energy-importing countries will continue to hold the presidency Vladimir PutinWar chest with oil and gas revenue on a daily basis.
US President Joe Biden and European Commission President Ursula von der Leyen have announced the formation of a joint working group to strengthen energy security for Ukraine and the European Union.
The “Energy Conservation Task Force” will be chaired by a representative of the White House and the European Commission, the executive branch of the European Union.
The United States and the European Union have stated that the mission’s primary goals are to diversify LNG supplies and reduce demand for natural gas for climate purposes.
The initiative will require new facilities for importing LNG, especially as the EU seeks to increase its demand for US gas supplies.
The White House has said that the EU will work towards the goal of meeting the demand for about 50 billion cubic meters of additional US LNG per year by at least 2030. It added that it was “consistent with our shared net-zero targets”.
“This will also be done in the light of the fact that prices must reflect long-term market fundamentals and the stability of supply and demand,” the United States said.
Russian energy is the main source of income and political influence for Moscow.
In fact, the EU currently receives about 40% of its gas through Russian pipelines and many of them pass through Ukraine.
There was revenue from Russian oil and gas Saw The Kremlin is responsible for approximately 43% of the federal budget between 2011 and 2020, which illustrates how important fossil fuels are for the Russian government.
Russia’s war with Ukraine coincided with sharp rises in coal, oil and gas prices as countries struggled to divert Russian energy resources.
In the aftermath of the crisis in Ukraine, the urgency to further deepen humanity’s dependence on fossil fuels has provoked a stern warning from UN Secretary – General Antonio Guterres.
“Countries are consuming so much because of the immediate fossil fuel supply gap that they are either ignoring policies to reduce fossil fuel use or reducing the cap cap,” Guterres said earlier this week. “This is insanity: addiction to fossil fuels is mutually confirmed destruction.”
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