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Energy

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EU-US cooperation on energy issues

The European Union and the United States are each other’s main trading partners, largest investors, and investment markets of first choice, and account for the largest bilateral trade relationship in the world. In this context, the EU and the U.S. are strategic partners who work together to enhance energy security, promote energy diversification and reduce dependence on fossil fuels. In parallel, the EU and the U.S. are committed to meeting the goals of the Paris Agreement, achieving the objective of net zero emissions by 2050, and keeping a 1.5 degrees Celsius limit on temperature rise within reach.

While the ministerial-level EU-US Energy Council is our main cooperation framework to address mid- and long-term issues, the transatlantic cooperation has been elevated to the Presidential level with the setting-up of an EU-US Task Force on Energy Security.

EU-US Task Force on Energy Security

Established on 25 March 2022 by President of the European Commission Ursula von der Leyen and President of the United States Joe Biden, the EU-US Task Force on Energy Security aims primarily to reduce the EU’s reliance on Russian energy, including by diversifying its natural gas supplies in alignment with its climate objectives and reducing its overall demand for natural gas.

The United States more than doubled its target to ensure an additional 15 billion cubic meters (bcm) of liquefied natural gas (LNG) to the EU. Last year, the United States exported 56 bcm to the EU, up from 22 bcm in 2021, and the EU was the largest destination for U.S. LNG exports last year, accounting for more than 52% of supplies.

On 10 March 2023, President Biden and President von der Leyen declared in a joint statement that the US and the EU will continue to work together to advance energy security and sustainability in Europe by diversifying sources, lowering energy consumption, and reducing Europe's dependence on fossil fuels.

To mark the first anniversary of the work of the Task Force, both sides published on 3 April 2023 a progress report that presents the Task Force’s accomplishments and outlines the next steps.

Statements of the EU-US Energy Task Force meetings

EU-US Energy Council

The EU-US Energy Council is the lead transatlantic coordination forum on strategic energy issues, meeting yearly to deepen the dialogue on energy security, technology and markets. Established in 2009, the Council works to accelerate a just energy transition to climate neutrality for citizens of the EU and the US, also promoting research and development, innovation and deployment in related fields.

The Council is chaired by the EU High Representative of the Union for Foreign Affairs and Security Policy and Vice-President (HRVP), and the EU Commissioner for Energy, the US Secretary of State and the US Secretary of Energy. A representative from the rotating EU Presidency also participates.

The most recent Energy Council was held in Brussels on 4 April 2023. HRVP Borrell and Commissioner Simson participated with Secretary of State Blinken and Deputy Secretary Turk.

Joint press releases or statements of the ministerial meetings

Business-to-business fora

Under the auspices of the Energy Council, Commissioner Simson and the US Energy Secretary Granholm co-led a high-level business forum on offshore wind on 27 April 2022. It was the third business-to-business forum organised within the framework of the Energy Council, and the first one focusing on renewables. The previous fora related to liquefied natural gas (2019) and small modular nuclear reactors (2020).

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