The US is finalizing a plan to supply the EU with up to 15bn additional cubic meters of liquefied natural gas by the end of 2022, according to three people familiar with the matter, reported from the Financial Times.

The agreement aims to help the EU reduce its dependence on natural gas from Russia, with the bloc racing to curb Russian imports by two-thirds this year.

LNG deliveries from the US would go towards a goal, set by the EU this month, of replacing 50bn cm of gas currently supplied by Russia with alternative supplies. In 2021, the US supplied Europe with 22bn cm, according to EU data.

Joe Biden, US president, and Ursula von der Leyen, European Commission president, hope to announce the agreement on March 25 morning. 

A European Commission official said the plan with the US would focus on ensuring security of supply for the EU in the short term, as well as boosting production in the US in the medium term and landing on measures to limit consumption. This would involve "concrete” figures for shipments of LNG to the EU, the official added.





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