Olivia Woods
Last Wednesday, the United States and Britain launched an energy partnership to boost energy efficiency and maintain better liquefied natural gas (LNG) shipments to Britain.
As a result of Russia’s invasion of Ukraine in February, the United Kingdom and other European countries have resorted to the United States in an effort to move out from their dependency of Russian energy imports.
“This partnership will bring down prices for British consumers and help end Europe’s dependence on Russian energy,” said British Prime Minister Rishi Sunak.
In addition to decreasing gas consumption and increasing energy efficiency, the “UK-US Energy Security and Affordability Partnership” will facilitate dialogue between the two countries.
Russia’s invasion of Ukraine has led to record-high energy prices for British households, leading the government to cap prices and subsidize the difference, a move that analysts estimate would cost about $42 billion pounds ($51 billion) over the 18 months the cap is in effect.
Under the terms of the agreement, the United Kingdom declared that the United States aimed to export between 9 and 10 billion cubic meters of LNG in the coming year.
Junior Trade Minister Greg Hands will begin his trip to the United States on Wednesday, where he will announce a memorandum of understanding on trade with the state of South Carolina. This is the third such arrangement with a U.S. state to increase trade missions and knowledge exchange.
Original source material for this article taken from here
GIPHY App Key not set. Please check settings