The United States, the EU LNG plan, takes Russia out of the power loop

After the meeting between the US President in Brussels Joe Biden And President of the European Commission Ursula von der Leyen On March 25, the United States and the EU Commission announced measures to reduce Europe’s dependence on Russia’s energy, and plans to immediately establish a joint task force on energy security to determine the parameters of this cooperation and implement it.

The United States has promised to ensure additional liquefied natural gas (LNG) volume for the EU market in 2022, with growth expected in 2022. The EU Commission says it will work with EU member states to ensure a stable demand for additional United States. At least 50 billion cubic meters of LNG per year by 2030 should reflect the long-term market fundamentals and the stability of demand and supply-side cooperation in terms of LNG supply in the European Union, and this growth will be consistent with our shared net zero goal.

The goal is for European countries to ensure adequate gas storage before and after the next winter. The United States and the EU are also working to continue their close cooperation in other initiatives to accelerate green energy transfers, lower energy costs and reduce dependence on fossil fuels.

But the promised US LNG supply to Europe is only a fraction of the 155 billion cubic meters that Russia sends to Europe each year. Russian supplies account for 40% of the EU’s total gas consumption.

In response to a question from New Europe, Lori Esposito MurrayThe chairman of the Conference Board’s (CED) Public Policy Center, chairman of the Economic Development Committee, said the EU’s decision to halt Russian energy imports was crucial.

He noted that the commitment of the last 24 hours in terms of the US role in supplying gas to Europe by 2030 and the need to fill 80% to 90% of European storage this year and next shows that they are ready. Whatever happens in Ukraine, transfers are taking place to reduce dependence on Russian supplies. “You’re going to see Russia’s role, which I believe has really diminished in Europe, but also globally because there’s so much more, I think China and India are now trying to meet Russia’s energy export problem. But they are all doing it at a very low price, “Esposito Murray told the United States Energy Association (USEA) virtual press briefing.

“The most significant effect is when there is a short-term problem with the transition, and part of that transition will lag behind in terms of sustainable movement and there will be more emphasis on coal in the short term, but I think what you are doing is very fundamental. That is going to change in the long run, and the move is to reduce this dependence on Russia, and that’s what you’re going to see happen in Ukraine – it’s just a track, it’s going to happen. “

In a joint statement issued on March 25, the United States and the EU Commission reaffirmed their joint commitment to Europe’s energy security and sustainability and to accelerate the global transformation of clean energy. “We strongly condemn Russia’s further aggression in Ukraine and express our solidarity and support for Ukraine,” the statement said.

In order to ensure the supply of energy to the European Union and Ukraine – energy security shares the objective of dealing with emergencies. “We welcome Ukraine’s continued progress towards physical integration with the EU energy market. “Energy, security and stability in the EU and Ukraine are essential for peace, independence and democracy in Europe,” the statement said.

Through the Joint European Initiative for More Affordable, Safe and Sustainable Energy (REPowerEU), the EU has achieved its goal of achieving independence from Russian fossil fuels before the end of the decade, replacing them with stable, affordable, reliable and clean energy supplies. For EU citizens and business.

The United States and the EU have reaffirmed their commitment to meeting the Paris Agreement, achieving the goal of net zero emissions by 2050 and keeping the temperature rise within the 1.5 degree Celsius limit, with a rapid clean energy transfer, including renewable energy. , And energy efficiency. These policies and technologies will also contribute to the independence of the European Union from Russian fossil fuels, the statement said, adding that natural gas remains an important part of the EU’s energy system in changing green, ensuring its carbon footprint decreases over time.

The United States and the European Commission have confirmed their strategic energy cooperation to secure energy supplies and reduce dependence on fossil fuels. “We share our efforts to provide stable, affordable, reliable and clean energy for citizens and businesses in the EU and its neighboring countries. Within this framework, we establish an immediate partnership to address emergency energy security objectives to ensure adequate levels of gas storage before next winter and next winter. We will continue our close cooperation in other initiatives to accelerate the transfer of green energy, lower energy consumption and reduce dependence on fossil fuels.

Returning to the Joint Task Force, the US and EU commissions agreed to work to reduce all greenhouse gas emissions from new LNG infrastructure and related pipelines, including clean energy use in power onsite operations, methane leakage reduction, and clean and renewable hydroelectricity.

The US is committed to maintaining a proactive regulatory environment, including reviewing applications and expeditiously working to allow any additional LNG capacity required to meet these urgent energy security goals and to support RePowerEU goals, ensuring a joint commitment to end EU dependence. By 2027 on Russian fossil fuels.

The EU Commission states that it regulates its regulatory procedures for reviewing and approving LNG imports, incorporates coastal facilities and related pipelines to support imports using floating storage regasification unit vessels, and regulates specific LNG imports. Terminal

While the EU is preparing an upgraded regulatory framework for energy security in supply and storage, the commission said it would increase security and predictability of supply and storage demand security and ensure closer cooperation between the EU and its neighboring partner countries. The European Commission has proposed controls on energy storage to ensure that existing storage infrastructure is up to 90% of its capacity by November 1 of each year, with specific phase-in provisions for 2022. The commission said it would coordinate with member states and provide transparency on the LNG capacity available at EU terminals.

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