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Report: UK PM Rishi Sunak To Announce Major US Gas Deal After COP27 Summit

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Rishi Sunak

Rishi Sunak

The Telegraph newspaper claimed that UK Prime Minister Rishi Sunak is apparently in negotiations with the US for a significant gas agreement and will probably make an announcement following the COP27 climate summit in Cairo.

The US will provide roughly 10 billion cubic meters of liquefied natural gas (LNG) to Britain under the agreement, which is anticipated to be disclosed in a few weeks. As the UK tries to overcome the cost-of-living issue as a result of its choice to stop using Russian energy, this gas agreement is anticipated to be a huge relief. With economies emerging from COVID-19 lockdowns and rising demand for LNG in Asia, gas prices have soared recently throughout Europe. Over 2 million customers have been impacted by approximately 12 British energy suppliers ceasing operations this year, according to the Reuters news agency.

National Grid in Britain had earlier issued a warning that the UK’s ability to ensure supply would depend on its gas prices being high enough to draw LNG imports from nations like Qatar and the United States as well as exports from Europe. The arrangement was set to be unveiled on October 21, but that plan had to be abandoned since Liz Truss was forced to step down due to pressure from Tory members, according to the newspaper. Sunak, who is in Cairo for the COP27 climate change meeting, meanwhile urged the leaders to address the effects of climate change right away, adding that energy security and climate change went “hand in hand.”

“Climate security goes hand in hand with energy security,” Sunak told a gathering at the COP27 climate summit in Egypt. “Putin’s abhorrent war in Ukraine and rising energy prices across the world are not a reason to go slow on climate change. They are a reason to act faster.”

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