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The European Commission announced that the European Union has reached an agreement with the United States on expanding imports of liquefied natural gas (LNG) in order to accelerate the diversification of European energy resources and strengthen European energy security. Under the agreement, the United States will gradually increase LNG supplies to the European Union, with additional exports of more than 15 billion cubic meters this year. Under the deal, the US will supply the EU with at least 50bn cubic metres of LNG a year until 2030.

With the expansion of LNG imports, the EU also needs to strengthen and improve its infrastructure. To this end, the Commission plans to work with member states to speed up the regulatory process for approving necessary equipment. In addition, in cooperation with the United States, contracts will be encouraged to support investment decisions in LNG import and export infrastructure. Speaking about the agreement, European Commission President von der Leyen stressed the need for the EU to implement a policy of diversifying energy sources.

In addition, both the EU and the US said they would reduce their reliance on fossil fuels and speed up the transition to clean energy. The EU plans to boost the expansion of renewable energy while importing LNG, aiming to wean itself off Russian fossil fuels within 10 years.

Last year, the EU imported 155bn cubic metres of Russian gas, about 45 per cent of the total. LNG imports from the United States, on the other hand, amounted to just 22 billion cubic meters.