EU, US sign gas deal to curb reliance on Russia

US and the EU on Friday signed a major deal on liquified natural gas, in an attempt to reduce Europe’s reliance on Russian energy.

The agreement will see the US provide the EU with at least 15 billion additional cubic metres of the fuel – known as LNG – by the end of the year, the BBC reported.

The bloc has already said it will cut Russian gas use in response to Russia’s invasion of Ukraine.

Russia currently supplies about 40% of the EU’s gas needs. That’s around 216 billion cubic metres, based on Beis figures that showed Europe consumed 541 billion cubic metres in 2020.

The deal was announced on Friday during a three-day visit by US President Joe Biden to Brussels. US President European Commission President Ursula von der Leyen discussed Russia’s invasion of Ukraine and offered fresh support to Kyiv.