U.S. To Bail Out Britain By Doubling Natural Gas Exports | OilPrice.com

The UK is grappling with sky-high energy prices. The initiative has an “immediate goal” of stabilizing energy markets and reducing demand.Under fresh plans to clamp down on the rising cost of living across the UK, the government has convinced the Biden administration to double US gas exports to Britain.

This will involve promoting nuclear fuels as a “safe” and “reliable” part of the transition, expediting the development of clean hydrogen, and driving international investment in offshore wind and carbon capture.As part of efforts to drive down the cost of living, the US will aim to export at least nine to 10 billion cubic metres of liquified natural gas to UK terminals over the next year, more than doubling the level in 2021.

“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” said Rishi Sunak Citing the war in Ukraine, Sunak and Biden said in a joint statement that it is “more important than ever” for allies to work together to build “resilient international systems”.

Source: Energy Industry News (energyindustrynews.net)

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