US-EU agreement on 15 billion cubic meters of gas: ‘Every little bit helps’

This year, the United States, along with other countries, wants to ensure that at least 15 billion cubic meters of liquefied petroleum gas (LNG) is delivered to the EU. The White House and the European Union have announced.

Allies write that this is part of the EU’s plan to make Russia less dependent on gas.

10 percent

By 2021, the European Union will still have imported a total of 155 billion cubic meters of gas from Russia, according to figures from the International Energy Agency. It accounts for about 40 percent of the EU’s total gas consumption. So today’s deal is less than 10 percent of EU gas imports from Russia.

Lucia von Kyuns, an energy expert at The Hague Center for Strategic Studies, says, “Every little thing helps. But this deal comes with challenges.

Also LNG needs changes in infrastructure. For example, Energy and Climate Minister Jetton says the Netherlands will use Kasuni to build additional gas terminals in the ports of Emshaven and Rotterdam. Flexible ships will arrive in Kroningen, where they can temporarily store LNG until the terminals are ready.

Cosprom

In the environmental area, there are warnings for this deal, for example in the methane leak area, says Van Kyuns. “Lng from the United States is not environmentally friendly. That’s why the EU wants to make deals to reduce leaks, for example. But it is losing momentum.”

To Minister Jetton, the assessment is clear. “I would rather import liquefied gas from the United States and some Middle Eastern countries than get it from Russia,” he says. Shale gas, which comes mostly from the United States, is the least preferred way to produce gas, he says. “But we have to do this to get through the coming winter.”

Yet Jetton has no intention of shutting down Russian gas altogether. “It is better to cancel Russian contracts immediately. But you are giving Gazprom a chance to make more money by selling our gas at a higher price.”