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US and EU announce liquefied gas deal

US PRESIDENT Joe Biden and European Union president Ursula von der Leyen announced a deal for additional liquefied gas for Europe today as the bloc bids to end its reliance on Russia.

The US, which has long sought to expand into the lucrative European market, will boost supply by the end of 2022, sending at least 15 billion cubic metres.

Mr Biden described the war in Ukraine as “an opportunity” as he announced the deal to adjust the structure of gas supply.

US liquefied natural gas sales to Europe jumped to record levels in January and February, with two-thirds of its supplies sold there.

Nato had called for Europe to diversify its oil suppliers, with the military alliance rejuvenating plans for its own pipeline which had previously been rejected by French and Spanish regulators.

Russia’s Nord Stream 2 pipeline, which bypassed Ukraine, was scrapped earlier this month following intense pressure by Washington, which had opposed it from the outset.

US National Security Adviser Jake Sullivan recently told reporters that the administration wants to quickly “surge” gas to Europe. 

It is believed the move could pave the way for increased sanctions on Russia.

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