US, UK agree to ramp up LNG trade amid efforts to cut reliance on Russian supplies

By Aysu Bicer

LONDON (AA) - Britain and the US on Wednesday forged a new energy deal that will enable the US to export more gas to the UK amid the war-driven energy crisis.

British Prime Minister Rishi Sunak and US President Joe Biden announced an "energy security and affordability partnership" aiming to reduce Russian energy exports, stabilize energy markets, and step up collaboration on energy efficiency, nuclear, and renewables.

Although the UK was not dependent on the large volumes of Russian gas prior to the Russia-Ukraine war, it was hurt by price hikes on global markets as its European neighbors rushed to fill their storage facilities and competed for other supplies.

"Under the deal, the US will strive to export at least 9-10 billion cubic metres of liquefied natural gas (LNG) over the next year via UK terminals, more than doubling the level exported in 2021 and capitalising on the UK’s leading import infrastructure," according to a written statement.

"Standing up to (Russian President Vladimir) Putin, together," Sunak said on Twitter. "Together the UK and US will ensure the global price of energy and the security of our national supply can never again be manipulated by the whims of a failing regime."

He said the deal will bring down prices for British consumers and help end Europe’s dependence on Russian energy once and for all.

The leaders also agreed to work on green investments, saying the partnership will include international investment in clean energy technologies, from offshore wind to carbon capture.

"We have the natural resources, industry and innovative thinking we need to create a better, freer system and accelerate the clean energy transition," Sunak said.

According to data from ship-tracking service ICIS LNG Edge, Britain imported 3.9 cubic meters of LNG from the US in 2021, 26% of its total LNG imports.