The United States and the European Union are committed to achieving the Goals of the Paris Agreement to achieve net zero emissions and limit temperature rise to 1.5 degrees Celsius by 2050, including through rapid clean energy transition, renewable energy, and energy efficiency. These policies and technologies will also help to make the EU independent of Russian fossil fuels. Natural gas remains an important part of the EU's energy system in the green transition, including ensuring that its carbon intensity decreases over time.

The United States and the European Commission affirm our strategic energy cooperation on energy supply security and reducing dependence on fossil fuels. We are working together to provide a stable, affordable, reliable and clean energy supply for the citizens and businesses of the EU and neighbouring countries. Within this framework, we immediately established cooperation to achieve the urgent energy security goal of ensuring adequate levels of gas storage by next winter and the next. We will continue to work closely on other measures to accelerate the green energy transition, reduce energy consumption and reduce reliance on fossil fuels.

Working Group on Energy Security

The United States and the European Commission will immediately establish a joint working group on energy security to develop the parameters of this cooperation and implement its implementation. The working group will be chaired by representatives of the White House and the European Commission Presidency.

The working group will focus on the following pressing issues:

The United States will work to ensure, including with international partners, an increase in LIQUEFIED natural gas (LNG) volumes for the EU market by at least 2022 BCM by 2015, with further increases expected in the future.

The United States and the European Commission will work to reduce the greenhouse gas intensity of all new LNG infrastructure and associated pipelines, including by using clean energy to power site operations, reducing methane leaks, and building clean and renewable hydrogen-ready infrastructure.

The United States commits to maintain a favorable regulatory environment, review procedures and act expeditiously on applications to allow for any additional export LNG capacity needed to meet this urgent energy security goal and support the RePowerEU goal, affirming the Eu's shared determination to end dependence on Russian fossil fuels by 2027.

The Commission will work with eu Member Governments to accelerate its regulatory process to review and determine approvals for LNG import infrastructure, including onshore facilities and associated pipelines, to support imports using floating storage regasification plant vessels and fixed LNG import terminals.

The Commission will work with EU Member States and market operators to pool demand through the newly established EU Energy Platform to increase production between XNUMX months 2022 and XNUMX months XNUMX year. The Commission will also support long-term contractual mechanisms and work with the United States to encourage contracts to support final investment decisions on LNG import and export infrastructure.

The European commission will work with members of the European Union, in order to ensure the stability of the liquefied natural gas (LNG) to the United States until at least 2030 demand of about 50 cubic centimeters per year, the premise is to supply the European Union should reflect the price of liquefied natural gas (LNG) formula long period market fundamentals, and the stability of the cooperation between supply and demand, and this kind of growth consistent with our common goal net zero. In particular, the price formula should take into account the port Henry gas spot price and other stabilizing factors.

The EU is preparing an upgraded regulatory framework for energy security in supply and storage. This will increase the certainty and predictability of the security of supply and storage requirements and ensure closer cooperation between the EU and its peripheral partner countries. The European Commission has proposed regulations on energy storage to ensure 2022% capacity of existing energy storage infrastructure by 90th 1st of each year, with specific regulations phased in during XNUMX year. The Commission will provide transparency with member States and with regard to available LNG capacity at EU terminals.

The United States and the European Commission will work with key stakeholders, including the private sector, to develop direct recommendations to reduce overall gas demand by accelerating market deployment and leveraging clean energy technologies and measures in Europe and the United States, such as:

Collaborate on technical and energy efficiency solutions, such as increasing the deployment and installation of demand response equipment (such as smart thermostats) and heat pumps, expanding the procurement of clean energy equipment, investing in innovative technologies and shifting from fossil fuels.

Accelerate planning and approval of renewable energy projects and strategic energy cooperation, including offshore wind technology.

Develop strategies to accelerate workforce development to support rapid deployment of clean energy technologies, including the expansion of solar and wind power.

Cooperate to promote the production and use of clean and renewable hydrogen to replace unabated fossil fuels and reduce greenhouse gas emissions, including by investing in technology development and supporting infrastructure.

The European Commission is working to advance measures to reduce gas consumption by maximising the production and use of renewable energy, including reducing the rate of electricity abandonment.

The US and the European Commission are determined to negotiate and implement an ambitious emissions-based global steel and aluminium trading arrangement to encourage decarbonisation of industry and reduce energy demand.