The United States will sharply increase its gas supplies to the United Kingdom under an Energy Security Partnership deal announced on Wednesday.
“Over the next few years, the United States plans to more than double the volume of gas exported to Britain compared to 2021 to ensure security of supply and reduce price volatility,” British said in a government statement.
Washington is therefore targeting exports of 9 to 10 billion cubic meters of liquefied natural gas over the course of the next year through British terminals, in particular with the aim of “filling gas storage facilities”, the text goes on to say.
Under the new partnership, the United States and the United Kingdom will “work to reduce global dependence on Russian energy exports, stabilize energy markets, and strengthen their cooperation on energy efficiency, nuclear power and renewable energy,” the statement said press release.
Those efforts are being spearheaded by a new US-British action group, which includes senior British and US officials, which is due to meet for the first time on Thursday.
Energy prices have skyrocketed since the economy reopened after the peak of the COVID-19 pandemic and have continued to accelerate since the start of Russia’s invasion of Ukraine, causing inflation to skyrocket in many regions of the world a cost crisis led life.