US, EU working to source natural gas in case of Russia ‘supply shocks’: Statement

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The United States and European Union said Friday they are working together to source alternative supplies of natural gas to protect the EU in case key energy supplier Russia retaliates against sanctions.

They are “working jointly towards continued, sufficient, and timely supply of natural gas to the EU from diverse sources across the globe to avoid supply shocks, including those that could result from a further Russian invasion of Ukraine,” said a statement from President Joe Biden and EU chief Ursula von der Leyen.

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Russia supplies about 40 percent of the natural gas used in Europe, where prices are already rocketing and winter is far from over.

With Washington and European NATO allies threatening to impose crippling sanctions on Russia, if it attacks Ukraine, there are fears that Moscow could use its energy dominance as leverage.

The White House is leading a search for back-up supplies, including liquid natural gas, which is transported by ship. US officials say that some exports previously destined for Asia from the Middle East have already been re-sold and diverted to Europe.

“We are collaborating with governments and market operators on supply of additional volumes of natural gas to Europe from diverse sources across the globe,” the joint US-EU statement said.

Read more: Russia says it wants peace but has ‘gun on the table’: US Ambassador to Moscow

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