Chad expands its access to energy
The United States and the European Commission are committed to reducing Europe’s dependence on Russian energy. We reaffirm our shared commitment to Europe’s energy security and sustainability and to accelerating the global transition to clean energy. By condemning in the strongest terms Russia’s continued invasion of Ukraine, we express our solidarity and support for Ukraine. We share the goal of addressing the energy security emergency – to secure energy supplies to the EU and Ukraine. We welcome the continued progress towards Ukraine’s physical integration into EU energy markets. The energy security and sustainability of the EU and Ukraine are essential for peace, freedom and democracy in Europe.
Through the Joint European Action for More Affordable, Secure and Sustainable Energy (REPowerEU), the EU has confirmed its goal of achieving independence from Russian fossil fuels well before the end of the decade, replacing them with stable, affordable, reliable and clean energy supplies. for EU citizens and businesses.
The US and EU are committed to meeting the goals of the Paris Agreement, achieving net zero emissions by 2050 and keeping a 1.5°C limit within reach temperature rise, including through a rapid transition to clean energy, renewables, and energy efficiency. These policies and technologies will also help make the EU independent of Russian fossil fuels. Natural gas remains an important part of the EU’s energy system in the green transition, in particular by ensuring that its carbon intensity decreases over time.
The United States and the European Commission confirm our strategic energy cooperation for the security of energy supply and the reduction of dependence on fossil fuels. We share our efforts to provide citizens and businesses in the EU and its neighboring partner countries with stable, affordable, reliable and clean energy sources. Within this framework, we are establishing immediate cooperation to meet the emergency energy security objective of ensuring adequate levels of gas storage before next winter and the following one. We will continue our close cooperation on other measures to accelerate the green energy transition, reduce energy consumption and reduce dependence on fossil fuels.
Energy Security Task Force
The United States and the European Commission will immediately establish a joint energy security task force to define the parameters of this cooperation and execute its implementation. The working group will be chaired by a representative of the White House and a representative of the President of the European Commission.
This working group will focus on the following pressing issues:
The United States will strive to secure, including working with international partners, additional volumes of liquefied natural gas (LNG) for the EU market of at least 15 bcm in 2022, with increases planned in the future.
The United States and the European Commission will undertake efforts to reduce the greenhouse gas intensity of all new LNG infrastructure and associated pipelines, including through the use of clean energy to power onsite operations, the reduction of methane leaks and the construction of clean and renewable hydrogen. infrastructure ready.
The United States is committed to maintaining a supportive regulatory environment with procedures to promptly review and act on applications to authorize any additional LNG export capacity that may be needed to meet this emergency energy security goal and support the objectives of RePowerEU, affirming the common will to end the EU’s dependence on Russian fossil fuels by 2027.
The European Commission will work with EU Member State governments to expedite their regulatory processes to review and determine approvals for LNG import infrastructure, to include onshore facilities and related pipelines to support imports using ships of floating regasification storage units and fixed LNG import terminals.
The European Commission will work with EU Member States and market operators to pool demand through a new EU Energy Platform for additional volumes between April and October 2022. The European Commission will also support long-term contracting and will partner with the United States to encourage contracts to support final investment decisions on LNG export and import infrastructure.
The European Commission will work with EU Member States to ensure a stable demand for additional US LNG until at least 2030 of around 50 billion m3/year, on the understanding that the price formula for LNG supplies to EU should reflect long-term market fundamentals, and stable cooperation between supply and demand, and that this growth is consistent with our shared net-zero goals. In particular, the price formula must take into account the spot price of natural gas at Henry Hub and other stabilizing factors.
The EU is preparing an improved regulatory framework for security of supply and energy storage. This will increase certainty and predictability regarding security of supply and storage needs and ensure closer cooperation within the EU and its neighboring partner countries. The European Commission has proposed an Energy Storage Regulation to ensure that existing storage infrastructure is filled to 90% of its capacity by 1 November each year, with specific phase-in provisions for 2022 The European Commission will coordinate with Member States and ensure transparency regarding the LNG capacity available at EU terminals.
The United States and the European Commission will engage key stakeholders, including the private sector, to make immediate recommendations that will reduce overall gas demand by accelerating the market deployment and use of technologies and mitigation measures. clean energy in Europe and the United States, such as:
Partnership on energy efficiency technologies and solutions such as accelerating demand response devices (such as smart thermostats) and heat pump deployment and installations, scaling up sourcing clean energy equipment, investing in innovative technologies and moving away from fossil fuels.
Accelerating the planning and approval of renewable energy projects and strategic energy cooperation, including in offshore wind technologies.
Develop a strategy to accelerate workforce development to support the rapid deployment of clean energy technologies, including an expansion of solar and wind power.
Collaborate to advance the production and use of clean, renewable hydrogen to relentlessly replace fossil fuels and reduce greenhouse gas emissions, including investing in technology development and supporting infrastructure.
The European Commission is working to promote measures that reduce gas consumption by maximizing the production and use of renewable energies, in particular by reducing reduction rates.
The United States and the European Commission are committed to negotiating and then implementing an ambitious, emissions-based global steel and aluminum trade agreement that encourages industrial decarbonization and reduces energy demand.