EU signs gas deal with US to curb reliance on Russian fuel

The EU and the US have announced a deal on liquified natural gas (LNG) in order to reduce Europe's reliance on Russia for energy. 

Through the agreement the US will provide the EU with at least 15 billion additional cubic metres of fuel by the end of year so that the bloc can cut its Russian gas use. 

The deal was announced by US President Joe Biden and European Commission president Ursula von der Leyen in a joint statement on Friday morning.

Biden travelled to Brussels for a three-day visit, where a NATO summit, G7 summit, and European Council summit are all underway. 

Russia is one of Europe's major energy suppliers, and the Russian invasion of Ukraine pushed energy prices to record levels. 

Both factors prompted the EU to wean itself off Russian gas by hiking imports from other countries while expanding its renewable energy sources.

The EU intends on cutting its Russian gas imports by two-thirds this year. In 2021 the EU imported 155 billion cubic metres of Russian gas, comprising 40% of its gas imports. 

Germany alone imports 55% of its gas from Russia, but has since halted the opening of a Russian gas pipeline called Nord Stream 2.