Global RiskNews Briefs

EU signs US gas deal to curb reliance on Russia

A major deal between the US and the European Union has been made on liquified natural gas to reduce Europe’s dependence on Russian energy sources. The US will provide the EU with extra gas, approximately 10% of the gas it currently gets from Russia. The bloc has pledged to cut Russian gas use after the country’s invasion of Ukraine. Russia supplies approximately 40% of the EU’s gas. 

The deal involves countries supplying an extra 15 billion cubic meters of gas, in addition to the 22 billion last year. The total in the deal will provide for approximately 24% of the gas imported from Russia. The aim is for the US and other countries to provide 50 billion cubic meters per year. This deal is promised to cause better long-term benefits than the short term difficulties of cutting Russia’s gas.

Read more: EU signs US gas deal to curb reliance on Russia

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