Biden: more liquid natural gas to the EU, against Putin and against ourselves. But there would be smarter solutions …
Oil weakened slightly after the Washington Post published news that Biden and the EU announced an initiative to incentivize and guide shipments of LNG, North American liquid natural gas to the EU. The announcement would come because European officials would ask the United States to do more to help them reduce their dependence on Russian energy sources.
The announcement, part of a "dramatic effort" to deprive Russia of gas-related leverage, would mark an unusual move to reorder the world's energy flow, a change that could have a long-term impact and meet European demands. in the field.
Biden's National Security Advisor Jake Sullivan said a deal would be announced on Friday. According to a US official, it is intended to ensure the supply of American natural gas and hydrogen for Europe.
Sullivan told reporters aboard Air Force One on Wednesday:
A major priority for both the president and his European allies is to reduce Europe's dependence on Russian gas, point and point, and the practical roadmap on how to do it: what steps need to be taken, what states can contribute United, what Europe must do alone.
Speaking to EU lawmakers in Brussels on Wednesday, European Commission President Ursula von der Leyen said all EU members "can help reduce our dependence on Russian gas".
Energy policy is also security policy.
With REPowerEU we have set the way forward.
Tomorrow I will discuss with @POTUS how to prioritize LNG deliveries from
to
in the coming months.
We are aiming to have a commitment for additional supplies for the next two winters. pic.twitter.com/xK8DnWHPxT
– Ursula von der Leyen (@vonderleyen) March 23, 2022
Of course, sending a flotilla of LPG tankers to Europe is nothing new and this plan has been suspended for a while: a known problem here is that Germany has no regasification terminals, so it will take at least 1-2 years to build the necessary structures at a cost of billions. It is also probably the reason why, after a more than 20% increase yesterday following the news that Putin will only accept rubles for Russian gas purchases, European gas prices have just moved after the WaPo report, without falling further. .
Of course, if the EU and the individual countries also announced a liberalization campaign for extractions in the EU itself in France, Italy, Spain and Poland, which have important fields of traditional or shale gas, prices would drop immediately, as our dependence on it would be much less. 'abroad. But we are the continent of the Nimby jocks, who do not want disturbances. So, for now, let's pay.
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The Biden article: more liquid natural gas to the EU, against Putin and against ourselves. But there would be smarter solutions… it comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/biden-piu-gas-naturale-liquido-alla-ue-contro-putin-e-contro-noi-stessi-ma-ci-sarebbero-soluzioni-piu-intelligenti/ on Thu, 24 Mar 2022 18:53:49 +0000.