US and European Union to announce agreement on natural gas – News

The United States and the European Union will announce this Friday (25) an agreement to send American LNG (liquefied natural gas) to European countries, as announced on Thursday (24) by the President of the European Commission, Ursula Von der Leyen.

“Tomorrow, with the president [Joe] Biden, we will introduce a new chapter of our energy association. This is additional liquefied natural gas from the United States to the European Union, replacing Russian natural gas we have for now”, said the leader of the Executive of the continental bloc.

“It is an important step forward,” added Von der Leyen, upon arrival at the summit that European leaders are holding today in Brussels, which has the American president as one of the guests.

The president of the European Commission had earlier participated in the G7 summit, where the world’s most industrialized countries decided to restrict Russia’s gold sales and reduce Moscow’s energy dependence.

The president of the Community Executive also said that “energy will be an important issue at the European summit”, and guaranteed that the main objective is the joint purchase of gas, in order to gain influence, “with the power of the European market”, as well as the joint storage of the energy source.

The leaders of the countries that make up the continental bloc will discuss different formulas to reduce energy prices.

Yesterday, the European Commission presented five options, ranging from putting a cap on the price of gas, offsetting the production costs of companies that generate electricity with fossil fuels, redirecting the “benefits fallen from the sky” to consumers or creating an aggregator that guarantees a low price for vulnerable consumers.

Brussels also presented a legislative proposal to oblige member states of the bloc to have their gas deposits filled to at least 80% next winter, in addition to a mechanism to remove control of deposits from third-country companies, such as Russian Gazprom.

The document on energy presented by the Commission and the third of the last five months, in which the European Executive put pressure on countries such as Spain, Greece, Romania, France, Italy and Belgium, progressively opened up to intervene in the market, something considered unthinkable six months ago.

The measures, even so, are not enough to please nations like Germany and the Netherlands.

Today’s summit takes place after the NATO (North Atlantic Treaty Organization) and the G7, also held in the Belgian capital, with the meeting of around 30 world leaders who discussed the Russian invasion of Ukraine.

About Abhishek Pratap

Food maven. Unapologetic travel fanatic. MCU's fan. Infuriatingly humble creator. Award-winning pop culture ninja.

Check Also

Cats know each other’s names and the names of people they live with

In recent years, scientists have been proving that cats really do connect deeply with humans, …