EU Inks LNG Deal With U.S. To Replace Russian Gas

The European Union and the United States have announced a deal for more U.S. liquefied natural gas exports to the EU as the latter seeks to replace Russian supplies, on which it is dependent. According to the terms of the deal, the United States will deliver at least 15 billion cubic meters of liquefied natural gas to the EU this year more than previously planned, the White House said in a fact sheet.

For context, Russia exported over 59 billion cubic meters of natural gas to Germany alone last year, a record high. "The European Commission will…