Brussels. The US and the European Union (EU) have announced a major deal on liquefied natural gas (LNG) in an effort to reduce Europe’s dependence on Russian energy. This information has been given in a recent BBC report.
The deal was announced on Friday during US President Joe Biden’s three-day visit to Brussels.
Under the agreement, the US will provide at least 15 billion additional cubic meters of LNG to the EU by the end of the year.
The bloc has already said it will cut its use of Russian gas in response to Russia’s invasion of Ukraine.
This would mean that increasing imports and generating more renewable energy are going to be a top priority.
Russia is a major supplier of Europe’s energy and its war with Ukraine has seen a record jump in the prices of energy related resources.
The BBC reported that energy prices were rising even before the attack, as economies were slowly recovering from the Covid crisis.
The invasion in Ukraine has prompted the European Union to pledge to cut Russian gas use by two-thirds this year by increasing imports from other countries and promoting renewable energy.
—AnyTV News
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