Fracking deal with the US will help Britain keep the lights on: Rishi Sunak and Joe Biden will unveil gas supply agreement TODAY
- Rishi Sunak and Joe Biden will another an energy deal between the UK and US
- UK-US Energy Security and Affordability Partnership aims to lessen blackouts
- Gas produced by fracking in the US will be imported to the UK over the next year
- Sunak said the deal ensures energy can ‘never again’ be manipulated by Russia
Rishi Sunak and Joe Biden will today announce a deal to keep the lights on in Britain – using gas produced by fracking in the US.
The Prime Minister and President have agreed a UK-US Energy Security and Affordability Partnership to lessen the risk of winter blackouts and further reduce dependence on Russia for gas and oil.
As part of the major initiative, Downing Street said the US will aim to export at least nine to ten billion cubic metres of Liquefied Natural Gas (LNG) to UK terminals over the next year – more than double the amount exported in 2021.
Rishi Sunak and Joe Biden (pictured together last month) will today announce a deal to keep the lights on in Britain – using gas produced by fracking in the US
The Prime Minister and President have agreed a UK-US Energy Security and Affordability Partnership to lessen the risk of winter blackouts and further reduce dependence on Russia for gas and oil
Ahead of the announcement today, Mr Sunak said last night: ‘Together the UK and US will ensure the global price of energy and the security of our national supply can never again be manipulated by the whims of a failing regime.
‘We have the natural resources, industry and innovative thinking we need to create a better, freer system and accelerate the clean energy transition. This partnership will bring down prices for British consumers and help end Europe’s dependence on Russian energy once and for all.’
Much of the energy imported from the US will be produced by fracking.
However, just weeks ago Mr Sunak reinstated the ban on shale gas extraction in the UK after Liz Truss tried to lift it.
Charles McAllister, director of UK Onshore Oil and Gas, said: ‘It is the height of hypocrisy for the Government to disallow shale gas development in the UK whilst chasing deals with the US to buy their shale gas.
‘Gas imports do not offer the economic, environmental or geopolitical merits a domestic industry would offer.
‘The Government’s strategy is clearly to offshore our environmental responsibilities and economic opportunities at the expense of UK households, businesses and taxpayers.’
As part of the major initiative, Downing Street said the US will aim to export at least nine to ten billion cubic metres of Liquefied Natural Gas to UK terminals over the next year – more than double the amount exported in 2021 (file photo of fracking site in New Mexico, USA)
Andy Mayer, energy analyst at the Institute of Economic Affairs think-tank, added: ‘The UK will pay a premium to import US fracked gas, while sitting on 50 to 100 years of our own reserves.
‘In return Mr Biden and Mr Sunak will get to talk shop about future renewables, nuclear, and energy saving.’
And Craig Mackinlay, chairman of the Net Zero Scrutiny Group of Tory MPs, said: ‘We should thank the foresight of previous US politicians in exploiting the potential for shale gas. It has brought lower prices for US consumers and is literally keeping the lights on in the UK.’
The transatlantic partnership will be steered by a Joint Action Group of senior officials from Whitehall and the White House, who will hold their first virtual meeting tomorrow. As well as improving supply, they will work on policies to improve energy efficiency and reduce demand.
The group will also collaborate on nuclear fuel technology and drive investment in other types of clean energy such as off- shore wind.
The Prime Minister and Mr Biden said in a joint statement: ‘During this global energy crisis, brought on by Russia’s illegal invasion of Ukraine, it is more important than ever for allied countries to deepen their cooperation to ensure resilient international systems which reflect our shared values.’