UK Ponders Milestone Natural Gas Deal with the U.S.

SEATTLE (Oil Monster): The Telegraph reported that the UK Prime Minister Rishi Sunal is all set to declare a milestone natural gas deal with the U.S. after the conclusion of the ongoing COP27 climate change summit.

As per reports, the UK officials are in Washington D.C. to pursue the gas deal. The deal is likely to be announced within a couple of weeks. However, the exact date of announcement is not known. The early indications are that the supply will likely total around 10 billion cubic metres of gas. The U.S. had promised to offer 15 billion cubic metres to the EU region as a whole.

There has been no consensus yet on the exact figures, as a result of which the public declaration is unlikely to have any reference to it. Also, there needs to be more clarification on exactly how much of those supplies will come from U.S. government and how much from U.S. private companies. The efforts are on to have the supplies reach the UK energy system before winter.

The official data suggests that the U.S. accounted for almost 42% of the UK’s liquefied natural gas (LNG) imports over the past twelve months. The country had imported 3.9 billion cubic metres of LNG from the U.S. in 2021.

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