
Today, President Joe Biden and European Commission President Ursula von der Leyen announced a joint Task Force to reduce Europe’s dependence on Russian fossil fuels and strengthen European energy security as President Putin wages his war of choice against Ukraine.
This Task Force for Energy Security will be chaired by a representative from the White House and a representative of the President of the European Commission. It will work to ensure energy security for Ukraine and the EU in preparation for next winter and the following one while supporting the EU’s goal to end its dependence on Russian fossil fuels.
The Task Force will focus its efforts on two main objectives: (1) Diversifying liquefied natural gas (LNG) supplies in accordance with climate objectives; (2) Reducing natural gas demand.
Diversifying LNG Supplies in Line with Climate Goals:
- The US will collaborate with international partners to ensure additional LNG volumes for the EU market of at least 15 bcm in 2022, with increased demands in the future.
- The US and the European Commission will work together to reduce the greenhouse gas intensity of all new LNG infrastructure and associated pipelines, including by using clean energy to power onsite operations, reducing methane leakage, and building clean and renewable hydrogen-ready infrastructure.
- The European Commission will start preparing an updated regulatory framework for energy supply and storage security, as well as collaborate with the EU Member States to expedite regulatory procedures for reviewing and approving LNG import infrastructure. The US will maintain its regulatory environment, with a focus on supporting this emergency energy security goal as well as the REPowerEU goals.
- The European Commission will collaborate with the EU Member States to ensure demand for approximately 50 bcm/year of additional U.S. LNG that is coherent with our shared net-zero goals until at least 2030. This will also be done with the understanding that prices should reflect long-term market fundamentals and supply and demand stability.
Lowering Natural Gas Demand:
- The US and the EU will engage key stakeholders, including the private sector, and make immediate recommendations to actually reduce gas demand by accelerating the market implementation of clean energy measures.
- Immediate reductions in gas demand can be accomplished by integrating energy efficiency solutions such as increasing demand response devices, such as smart thermostats, and installing heat pumps. The REPowerEU plan estimates that energy savings in homes can replace 15.5 bcm this year and that speeding up wind and solar deployment can replace 20 bcm this year, as well as contribute to the EU goal of saving 170 bcm/year by 2030 through existing plans such as “Fit for 55.”
- As global leaders in renewable energy, the United States and the European Commission will collaborate to expedite renewable energy project planning and approval, as well as strategic energy cooperation, including on technologies in which we both excel, such as offshore wind.
- We will continue to work together to advance the production and use of clean, renewable hydrogen in order to displace unabated fossil fuels and reduce greenhouse gas emissions, which will include both technology and associated infrastructure.