As part of an initiative announced by UK Prime Minister Rishi Sunak and US President Joe Biden on 7 December, the two countries will collaborate to improve energy security and reduce prices.
The new ‘UK-US Energy Security and Affordability Partnership’ will push initiatives to reduce global reliance on Russian energy exports. The UK Government said in a statement that it would also stabilise energy markets and increase collaboration on energy efficiency, nuclear, and renewables.
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Russia’s invasion of Ukraine has resulted in a global increase in energy costs. The initiative aims to ensure that the market consistently supplies liquified natural gas (LNG) from the US to UK terminals. The two countries will also collaborate on energy-saving initiatives.
To accomplish this, the US will aim to use UK terminals to export between nine and 10 billion cubic metres of LNG next year. “This will be good for both UK and European partners as we look to replenish gas storage next year,” the statement reads.
Sunak added: “Together, the UK and US will ensure the global price of energy and the security of our national supply can never again be manipulated by the whims of a failing regime. We have the natural resources, industry and innovative thinking we need to create a better, freer system and accelerate the clean energy transition.
“This partnership will bring down prices for British consumers and help end Europe’s dependence on Russian energy.”
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By GlobalDataThe UK Government said in a statement that it would minimise global reliance on Russian energy by promoting the transition to clean energy, accelerating clean hydrogen development internationally, and promoting civil nuclear as a safe energy source. In terms of civil nuclear energy, the partnership will promote nuclear energy as a safe and dependable component of the clean energy transition.
According to the two governments, the project would seek new energy solutions such as decarbonisation of the aerospace industry and development of sustainable aviation fuel technology, cooperation work on electric vehicles, and energy smart appliances.
“We will also continue our close collaboration on carbon capture usage and storage and progress the Clean Hydrogen Mission,” the statement read. The UK and US are already co-leads of the Hydrogen Breakthrough Agenda, a flagship initiative to push forward clean hydrogen internationally.”
