EU and US agree on LNG supply cooperation

The transatlantic partners pledge cooperation on supply, long-term contracts and infrastructure

The US “will strive to ensure, including [by] working with international partners” that Europe receives “at least 15bn m³” of LNG this year, “with expected increases going forward”, Washington and Brussels have said in a joint statement. “This will replace the LNG supply we currently receive from Russia,” adds European Commission president Ursula von der Leyen. Likely international partners may also include Australia and Qatar, while Japan has also pledged support. 15bn m³ – 2022 supply pledge “The US can easily exceed this 15bn m3 target, as European price signals on the TTF are likely to far exceed Asian spot prices,” consultancy Rystad Energy explains. The US delivered 25bn m