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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.
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