British Prime Minister Rishi Sunak and the U.S. President have agreed on a new energy partnership that includes increased exports from the U.S. to the U.K., with the aim of providing energy security from Russia’s war threats in Ukraine.
The ‘UK-U.S. Energy Affordability and Security Partnership’ seeks to reduce global dependence on Russian energy exports, stabilize energy markets and intensify collaboration on energy efficiency, a Downing Street statement reads.
«This partnership will reduce prices for British consumers and help end Europe’s dependence on Russian energy once and for all,» Sunak said.
Thus, the British Prime Minister has clarified that his country has the natural resources and the industry to «create a better and freer system, and accelerate the transition to clean energy».
Sunak and Biden agreed at the G20 Summit in Indonesia to address the energy needs of both countries, as well as to «lead efforts to accelerate» the energy transition.
This plan will be led by each country’s energy ministers, driving international investment in clean energy technologies.
This agreement–the third by London with Washington in the absence of a bilateral free trade agreement–would guarantee at least 9 billion cubic meters of U.S. liquefied natural gas over the next year, an amount that would double the 2021 export and match the record volume provided this year, Bloomberg reports.
