Thread by @DaveKeating

Presidents @JoeBiden & @VonDerLeyen have just announced a deal that will see 🇺🇸 deliver an additional 15 billion cubic metres of liquified natural gas (#LNG) this year to 🇪🇺.

It's designed to give #EUCO leaders the confidence today to ban Russian energy imports.

But #Biden acknowledges the problem: Europe has few #LNG port facilities to receive the liquified gas, and they're already operating at capacity. He says US will help build new LNG infrastructure.

Longer term, 🇺🇸 will deliver at least 50bn cm per year to 🇪🇺 from now to 2030.

The amount of extra 🇺🇸#LNG deliveries by ship this year promised by #Biden amounts to 10% of the 155 bcm of gas 🇪🇺 imports from Russia each year via pipeline.

EU will "build more infrastructure to receive LNG and to take steps to increase the efficiency of gas" Biden says.

Here's the problem: The US could pledge to deliver a gazillion cubic metres of #LNG if it wants, the problem is Europe can only receive so much because the terminals to receive LNG are limited, and already near capacity.

My debrief following the Biden-VDL announcement:

Another interesting detail in the announcement was that the two presidents talked about phasing out 🇪🇺Russian energy imports by the end of the decade.

Two weeks ago at the #Versailles summit, President @VonDerLeyen said "by 2027". What changed?