UK PM Rishi Sunak to announce major US gas deal after COP27 summit: Report

UK Prime Minister Rishi Sunak is reportedly in talks with the US for a major gas deal and is likely to make an announcement after the COP27 climate summit in Cairo, the Telegraph newspaper reported.

Under the deal, which is expected to be announced in a couple of weeks, the US will supply about 10 billion cubic metres of liquefied natural gas (LNG) to Britain.

This gas deal is expected to provide a major relief for the UK as it attempts to shrug off the cost-of-living crisis following its decision to cut off from Russian energy.

In recent months, gas prices have skyrocketed across Europe as economies reopen from COVID-19 lockdowns and high demand for LNG in Asia.

Reuters news agency reported that around 12 British energy suppliers have ceased trading this year, affecting more than 2 million customers.

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Earlier, Britain's National Grid had warned that UK’s ability to secure supply would depend upon its gas prices being high enough to attract exports from Europe and LNG from countries like Qatar and the United States.

The deal was supposed to be announced on October 21, but that plan was scrapped as Liz Truss had to resign following pressure from Tory members, the newspaper reported.

Meanwhile, Sunak, who is in Cairo for the COP27 climate change summit, called on the leaders to address the impact of climate quickly, adding that climate and energy security 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."

(With inputs from agencies)

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