U.S. National Security Adviser Jake Sullivan (Jake Sullivan) said on Wednesday (23rd) that the United States and the European Union are close to reaching an agreement aimed at reducing European energy dependence on Russia, which will be officially announced as soon as Friday.
U.S. President Biden will visit Europe on Wednesday and will join forces with European allies to further isolate Russia. It is rumored that the United States and Europe are close to reaching a new version of the “Marshall Plan” agreement to ensure the supply of U.S. natural gas and hydrogen to Europe to reduce Europe’s energy dependence on Russia.
Sullivan said: “The main priority of President Biden and European allies is how to reduce and completely stop Europe’s reliance on Russian gas? The specific implementation roadmap for both the US and Europe and what actions will be taken? This has been in the past few days and weeks. has been the subject of intense discussion.”
He mentioned that the US will focus on diversifying the supply of natural gas in Europe, finding ways to increase the supply of liquefied natural gas and increasing the supply of liquefied natural gas to Europe.
European Commission President Ursula von der Leyen tweeted that he would discuss with Biden how to prioritize LNG deliveries in the coming months, with the goal of committing to additional supplies over the next two winters. However, it is reported that the United States is unlikely to guarantee the supply of a specific amount of natural gas to the European Union, and the specific details are still to be discussed by the United States and Europe.
Russia accounts for 40% of Europe’s natural gas imports and 24% of its crude oil imports. It is Europe’s main energy supplier. EU countries are currently considering following up with the United States and imposing embargo sanctions on Russian oil.
According to reports, Biden met with business leaders such as Exxon, Marathon Oil and JPMorgan Chase with Treasury Secretary Yellen, Sullivan and White House National Economic Council Director Brian Deese before his trip to Europe.
JPMorgan Chase CEO James Dimon suggested at the meeting that in the event of Russia’s invasion of Ukraine, the United States and Europe need to do more to achieve energy independence, urging the US government to formulate a new version of the “Marshall Plan” to vigorously increase energy such as natural gas. U.S. domestic energy production, and investments in new energy technologies such as hydrogen.
The Marshall Plan was a plan for the United States to provide economic assistance and reconstruction assistance to Western European countries damaged by the war following World War II.
They also discussed how to prepare to boost U.S. oil and gas production, as the U.S. might help fill the energy gap if the European Union eventually decides to join the U.S. in banning Russian crude imports.