U.S. President Joe Biden and European Commission President Ursula von der Leyen on Friday called on the world’s main energy-producing countries to join them in supplying Europe with additional liquefied natural gas (LNG).
“The United States and the EU are working jointly towards continued, sufficient, and timely supply of natural gas to the EU from diverse sources across the globe to avoid supply shocks, including those that could result from a further Russian invasion of Ukraine,” Mr. Biden and Mrs. von der Leyen said in a joint statement.
“‘We are collaborating with governments and market operators on supply of additional volumes of natural gas to Europe from diverse sources across the globe,” they added.
Russia accounts for over 40% of Europe’s gas imports and any reduction of the supply due to Western sanctions or Russian retaliation would increase the energy bills of millions of households.
However, the United States is the biggest supplier of LNG to the EU, the two officials said.
According to the joint statement, the EU and US pledged to intensify their cooperation to safeguard energy supplies to Europe and to work on a reliable and affordable energy supply for Europe’s citizens and businesses, as well as those of neighbouring countries.
Along with EU member states, they are also working on plans for emergency measures and on the role that stocking can play in ensuring the security of supplies.
These issues are scheduled to be discussed further at an upcoming session of the EU-US Energy Council, scheduled for 7 February.