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EU gets additional volumes of LNG from US – Kadri Simson

Gas Materials 7 September 2022 15:01
Baku, Azerbaijan Trend News Agency Leman Zeynalova
EU gets additional volumes of LNG from US – Kadri Simson

EU has already received the additional volume of liquified natural gas (LNG) agreed with the US, the EU Commissioner for Energy Kadri Simson wrote on Twitter, Trend reports.

“In 2021, we imported 22 billion cubic meters of LNG from the US. This year, from January to August, we have received more than 40 billion cubic meters. This means that the additional 15 billion cubic meters of LNG agreed by President of the European Commission Ursula von der Leyen and the US President Joseph Biden has already been delivered,” she wrote.

The agreement between EU and US on additional energy supplies was reached in March this year.

The European Commission committed to work with EU Member States toward ensuring stable demand for additional US LNG until at least 2030 of approximately 50 bcm/annum, on the understanding that the price formula of LNG supplies to the EU should reflect long-term market fundamentals, and stability of the cooperation of the demand and supply side, and that this growth be consistent with shared net zero goals. In particular, price formula should include consideration of Henry Hub Natural Gas Spot Price and other stabilising factors.

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