EU strikes gas deal with the U.S. as it seeks to cut its reliance on Russia

U.S. President Joe Biden and European Commission’s President Ursula von der Leyen shake hands after speaking about steel and aluminium tariffs, on the sidelines of the G20 leaders’ summit in Rome, Italy October 31, 2021.

The U.S. said it will work with international partners to increase the amount of liquified natural gas shipped to Europe this year.

The European Commission President Ursula von der Leyen and the U.S. President Joe Biden announced the formation of a task force to bolster energy security for Ukraine and the EU.

The Task Force for Energy Security will be chaired by a representative from the White House and the European Commission.

In a joint statement, the US and EU said that the primary goals of the task force were to reduce demand for natural gas and to increase the availability of Liquefied Natural Gas.

It comes amid heightened concern that energy-importing countries continue to top up President Vladimir Putin's war chest with oil and gas revenue.

Roughly 40% of the EU's gas comes from Russian lines and some goes through Ukraine.

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