US Commits to Increasing LNG Exports to EU

The U.S. and the EU agreed to continue building on U.S. liquid natural gas exports to Europe and hope to supply an additional 50 billion cubic meters in 2023 compared with 2021, according to a joint statement released Nov. 7. The U.S. exported about 48 BCM to the EU from January through October, the statement said, 26 BCM more than in all of 2021. “Building on this trend, the participants committed to work on keeping a high level of LNG supplies to Europe in 2023.” The U.S. and the EU earlier this year announced an initiative to reduce European dependency on Russian energy in a bid to further isolate Moscow amid its war in Ukraine (see 2203250035).