Biden Expected to Announce Additional LNG Supply in Europe

President Joe Biden [Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] U.S. President Joe Biden, who is visiting Europe, is expected to announce plans to supply additional U.S.-produced liquefied natural gas (LNG).

The Washington Post (WP) reported on the 23rd (local time), citing U.S. government officials, that "President Biden and Ursula von der Leyen, President of the European Union (EU) Commission, are expected to announce such plans on the 25th in Brussels, Belgium." This move by the U.S. aims to prevent the ongoing threat posed by Russia to Europe, which is highly dependent on Russian natural gas.

Europe has also requested related support from the U.S. Von der Leyen stated in her speech to the EU Parliament that she plans to meet with President Biden to discuss the supply of U.S. gas to Europe.

Jake Sullivan, U.S. National Security Advisor, also said, "President Biden is scheduled to announce measures on the 25th to reduce Europe's dependence on Russian gas." He added, "The U.S. will seek ways to increase LNG supply to Europe. This is a major priority for the U.S., and measures to increase gas supply to Europe are already underway."

Last month, the EU announced plans to reduce imports of Russian gas to one-third of the current volume within a year, in preparation for the possibility that Russia, which invaded Ukraine, might retaliate against international sanctions by cutting natural gas supplies. However, there are practical difficulties in securing alternative import sources.

WP stated, "From Europe's perspective, which is transitioning to green energy, U.S.-produced LNG can be a temporary measure, but it is not easy to completely replace Russian natural gas." This is due to a lack of infrastructure within Europe for U.S. LNG supply and the possibility that the volume available for Europe may not be sufficient.

There is also discussion about redirecting volumes previously exported to Asian countries to Europe, but this could result in increased reliance on coal-fired power generation in Asia. WP described this as "an unprecedented move to reshape global energy flows," predicting that "the long-term impact will continue even after Russia's invasion ends."

This content was produced with the assistance of AI translation services.