Biden and EU agree landmark gas deal to break Kremlin’s hold
Joe Biden has agreed a landmark energy supply deal with the EU under which the US will increase transatlantic gas deliveries, in the hope of weakening the power the Kremlin wields thanks to its natural resources.
Speaking in Brussels after the deal was agreed on Friday, the US president said Vladimir Putin exploited Russia’s status as Europe’s main supplier of gas to “coerce and manipulate his neighbours” and that the proceeds of gas and oil sales “drive his war machine”. He said the partnership with the EU would strip Putin of that weapon by reducing Europe’s dependence on Russian energy, as well as the continent’s overall gas demand.
Under the plan, the US and other nations will increase exports of seaborne liquefied natural gas (LNG) to Europe by 15bn cubic meters this year. Even larger shipment volumes would be delivered in the future, he promised.
At the same time, the EU would try to keep climate goals on track by powering gas infrastructure with clean energy and reducing methane leaks that could worsen global warming.
Biden said such a step was not “only the right thing to do from a moral standpoint” but “it’s going to put us on a stronger strategic footing”.
The initiative would probably require Europe to build new terminals for importing LNG, with current infrastructure unable to cope with a significant rise in imports. Germany, Europe’s largest economy, has no LNG terminals.
Ursula von der Leyen, president of the European Commission, said it was important for Europe to shift away from Russia towards more reliable and friendly suppliers. “We aim to reduce this dependence on Russian fossil fuels and get rid of it,” she said.
Russian energy is a key source of income and political leverage for Moscow. Almost 40% of the
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