BIDEN AND SUNAK REACH AGREEMENT TO INCREASE GAS EXPORTS FROM US TO UK

Wed 07 December 2022:

US President Joe Biden and British Prime Minister Rishi Sunak have agreed to increase bilateral gas exports. According to the agreement, the amount of gas exported from the United States to the United Kingdom will increase significantly in the near future in order to limit the crisis caused by Russia’s ongoing invasion of Ukraine.

With Russia cutting off gas supply to Europe, gas bills in the UK have skyrocketed, prompting the two countries to announce a “energy security and affordability partnership,” as well as a joint action group comprised of officials from both countries.

“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,” Sunak told reporters.

While the UK was not overly reliant on Russian gas supplies, the competition in the market for alternate sources following the sanctions imposed on Russia has left the country in a tough situation.

However, under the new deal, the amount of liquefied natural gas (LNG) exported to the UK from the US is expected to be double the amount exported in 2021. The two countries will also be looking to collaborate on green initiatives with special focus on finding alternate fuel sources.

“During this global energy crisis, brought on by Russia’s illegal invasion of Ukraine, it is more important than ever for allied countries to deepen their cooperation to ensure resilient international systems which reflect our shared values,” Biden and Sunak said in a joint statement.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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