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US-UK To Launch Energy Partnership

LNG

The US and UK have pledged a new energy partnership to spur LNG trade to reduce reliance on Russian gas and accelerate the transition towards a decarbonised economy, the British government said.

  • Over the coming year, US aims to more than double the amount of gas exported to the UK in 2021 to secure supply and reduce price volatility.
  • Both parties will work to ensure the market delivers sustained increases in the supply of LNG to UK terminals from the US and will collaborate on energy efficiency measures.
  • The US will strive to export at least 9-10bcm of LNG over 2023 via UK terminals.
  • The UK has imported around 11bcm of gas from the US so far in the first 11 months of 2022, up from 4bcm in 2021, Refinitiv Eikon data show.
USEnergy BulletsBank Of England (BOE) Market NewsUKCommodities
USEnergy BulletsBank Of England (BOE) Market NewsUKCommodities

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