The United States and the United Kingdom have agreed on a new deal to boost LNG supplies from the US to the UK. The “UK-US Energy Security and Affordability Partnership” will see LNG volumes traded double compared to the year 2021, reaching 9 to 10 bcm of LNG exported to the UK in 2023.
The UK, which imports LNG through three terminals - Grain LNG, South Hook LNG, and Dragon LNG - has already substantially increased imports of LNG in 2022 compared to the previous year, mostly from the US. In 2021, the UK imported over 51 bcm of natural gas, including more than 14 bcm of LNG, with between 4 and 5 bcm coming from the US. For the same year, the US exported over 146 bcm of LNG, a more than twofold increase compared to 2020 (68 bcm) or 2019 (66 bcm). The US’ LNG exports to Europe are expected to keep increasing due to the situation in Ukraine and the continent’s strained relationship with Russia, which used to be Europe’s primary gas partner.
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