This year, the European Union will receive 50 billion cubic meters (bcm) of liquefied natural gas (LNG) from the US to compensate for the shortfall in Russian supplies and reduce the EU bloc’s dependence on Russian energy carriers, DPA and Agerpres reported.
The information is contained in an annual report published on Tuesday by the EU-US Joint Task Force on Energy Security, which presents its achievements and future prospects.
In 2023, the group will continue to focus on the energy market turmoil and high energy prices caused by Russia’s invasion of Ukraine, the White House and the European Commission said in a joint statement ahead of Tuesday’s EU-US Council meeting. energy
A year later, the group has made significant progress towards its goals of reducing the bloc’s dependence on Russian energy resources, but EU member states are still unable to buy enough liquefied natural gas to replace Russian gas.
The group’s priorities this year include the ongoing assessment of LNG markets and securing the supply of 50 billion cubic meters of liquefied natural gas from the US to Europe, reducing methane emissions, efficiency and energy conservation measures.
In the coming months, the group will continue to push for high levels of LNG supplies from the US to Europe, at least 50 billion cubic meters, to ensure storage is filled for next winter.
The EU, the main destination for LNG exports from the USA
The EU Energy Platform will launch the first joint tenders in May 2023, and gas suppliers from Russia cannot participate in these tenders.
The United States has significantly increased its goal to supply an additional 15 billion cubic meters of liquefied natural gas to the EU. US exports to Europe were 56 billion cubic meters in 2022, up from 22 billion cubic meters in 2021. The European Union was the largest destination for US LNG exports, accounting for more than 52% of shipments.
At the end of 2022, Russian gas accounted for only 16% of EU gas imports, compared to 37% in March 2022. Between August 2022 and January 2023, the EU reduced demand for natural gas by 19%, in particular due to reduced electricity consumption, energy efficiency measures in the housing sector and the search for new digital solutions to help consumers save money.
Source: Hot News
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