US LNG Exports To Europe Exceed US-EU Task Force Target

During a meeting of the US-EU Task Force on Energy Security, President Biden and Von der Leyen pledged to continue commitment to increase LNG supplies from the US to Europe, while LNG supply targets for 2022 have already been surpassed, according to the White House.

• The Task Force’s target to increase LNG supplies from the US to Europe by 15bcm in 2022 compared with 2021 levels, has already been exceeded, the White House said.
• US LNG exports to EU for Jan-Oct 2022 stood at 48bcm. Total US LNG exports to Europe in 2021 were 22bcm.
• The US aim to increase LNG supplies to Europe by 50bcm in 2023, compared with 2021 levels.
• The Task Force aims to ensure security of supply and storage filling in 2023 at prices reflecting fundamentals, supported by the establishment of the EU Energy Platform.
• The EU Energy Platform is a voluntary coordination mechanism that plays a key role in pooling demand, coordinating infrastructure use, negotiating with international partners and preparing for joint gas and hydrogen purchases.