US-UK deal will deliver more gas to Brits in ’23

WASHINGTON — The United States will increase exports of liquefied natural gas to Britain under a new agreement calling for the two countries to work together to boost energy security and drive down prices following Russia’s invasion of Ukraine.

President Joe Biden and British Prime Minister Rishi Sunak announced the agreement Wednesday as part of a larger effort to reduce global dependence on Russian energy exports, stabilize Western energy markets and step up collaboration on energy efficiency, nuclear power and renewables.

The U.K.-U.S. Energy Security and Affordability Partnership will be steered by a group of senior British and White House officials.

Under the deal, the U.S. pledged to export at least 9 billion to 10 billion cubic meters of liquefied natural gas, or LNG, over the next year via U.K. terminals — more than double the amount exported in 2021. U.S. gas exports to Europe have sharply increased following Russia’s invasion of Ukraine in February.

The new commitment “will be good for both U.K. and European partners as we look to replenish gas storage next year,” the White House and prime minister’s office said in a statement.

Working with allies, the United States and United Kingdom “commit to intensify our collaboration to support international energy security, affordability and sustainability, as Europe reduces its dependence on Russian energy,” the leaders said.

The effort comes after the Group of Seven major industrial nations, the European Union and Australia last week adopted a $60-per-barrel price cap on Russian oil, meant to both prevent price spikes and starve Russian President Vladimir Putin of funding for his war in Ukraine.