This year, the European Union will receive about 50 billion cubic meters (bcm) of liquefied natural gas (LNG) from the USA to compensate for the lack of Russian supplies and to reduce the EU bloc’s dependence on Russian energy, DPA reports.

The information is included in the annual report published on Tuesday by the EU-US Joint Task Force on Energy Security, which presented its achievements and future perspectives.

In 2023, the group will continue to focus on energy market shocks and high energy prices caused by Russia’s invasion of Ukraine, according to the joint statement issued by the White House and the European Commission, ahead of Tuesday’s meeting of the Council for EU-US energy, according to Agerpres.

A year after its founding, the group has made significant progress in meeting its goals of reducing the bloc’s dependence on Russian energy, but EU member states are still unable to procure enough liquefied natural gas to replace Russian gas.

The group’s priorities this year include the continuous evaluation of LNG markets and securing deliveries of 50 billion cubic meters of liquefied natural gas from the US to Europe, reducing methane emissions, efficiency and energy saving measures.

In the coming months, the group will continue to push for a high level of US LNG shipments to Europe of at least 50 billion bcm to ensure storage facilities are filled for next winter.

The EU Energy Platform will launch the first joint tenders in May 2023, and gas suppliers from Russia cannot participate in these tenders.

The United States has significantly increased its goal to ensure the delivery of another 15 billion bcm of liquefied natural gas to the EU. In 2022, US exports to Europe stood at 56 bcm, up from 22 bcm in 2021. The European Union was the largest destination for US LNG exports, accounting for over 52% of shipments.

At the end of 2022, Russian gas accounted for only 16% of EU gas imports, down from 37% in March 2022. Between August 2022 and January 2023, the EU reduced natural gas demand by 19%, including by reducing electricity use, after energy efficiency measures in the residential sector and identifying new digital solutions to help consumers save money.