US and EU working on additional natural gas supplies for Europe: “To avoid supply shocks”

“The United States and the European Union are working together to ensure sustained, sufficient and timely supplies of natural gas to the EU from various sources around the world to avoid supply shocks, including those that could result from a further Russian invasion of Ukraine.” , assure Biden and von der Leyen.

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About 100,000 Russian soldiers have gathered on the border with Ukraine in recent weeks. The West accuses the Kremlin of brooding over possible military intervention and threatens severe sanctions if President Vladimir Putin orders his troops to cross the border. Russia denies planning an invasion.

gas tap

Either way, escalating tensions are raising questions about Europe’s gas supplies at a time when consumers are moaning under sky-high prices. Russia accounts for about 40 percent of European imports, although dependence varies greatly from country to country. There is also uncertainty about the fate of Nord Stream 2, a new pipeline that is supposed to bring Russian gas directly to Germany, but is still not in use.

While it is unclear whether Russia would effectively turn off the gas, the US and the EU have been working intensively in recent weeks to strengthen supplies. In the communication, Biden and von der Leyen commit to further increase strategic cooperation on energy supply and to “make available reliable and affordable energy supplies to citizens and businesses in the EU and its neighbourhood”.

Alternative

This would include liquefied natural gas (LNG), which accounts for about 20 to 25 percent of European imports. The US is Europe’s largest LNG supplier and deliveries have continued to increase in recent weeks. “We want to work in close cooperation with the EU Member States on LNG supplies for security of supply and emergency planning. We will also exchange views on the role of storage in security of supply,” the statement said.

In addition, it is also being examined with other suppliers on the world market whether it is possible to divert additional stocks to Europe. “We are working with governments and market players to deliver additional volumes of natural gas from sources around the world,” said Biden and von der Leyen, who had a telephone interview on Thursday with Tamim bin Hamad, the emir of the gas giant. Qatar. There are also contacts with Egypt, Algeria and Asian countries, among others.

The High Representative of European Foreign Policy Josep Borrell and European Commissioner for Energy Kadri Simson will travel to Washington, where a meeting on energy with their American counterparts is on the agenda for 7 February.

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