France eyes up floating LNG terminal: Reports

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French authorities reportedly consider proposals to construct a floating liquefied natural gas (LNG) terminal in the northern port of Le Havre. 

The proposed LNG terminal is being negotiated with energy company TotalEnergies and is expected to provide networks run by French gas utility Engie, Les Echos newspaper reported on Saturday.

The project is expected to reduce the country’s reliance on Russian natural gas, as well as to increase the country’s import capacity.

The Russian military operation in Ukraine prompted the EU to follow US moves to introduce sanctions against Moscow. As part of the sanctions agenda, bloc members struggle to curtail supplies of Russian natural gas.

On Friday, Washington and Brussels said the US would supply 15 billion cubic meters of LNG to the EU in 2022 to help wean it off Russian energy.

The EU's move last week to buy gas from the United States aims to reduce Europe’s dependence on Russian energy. The European Union's agreement aims to buy at least 15 billion cubic meters of liquefied natural gas (LNG) more from the US this year to lower its dependence on Russian natural gas, reported Bloomberg. However, it is worth noting that American imports would cover just a fraction of Europe’s energy demand.

The agreement is likely to be officially announced later on Friday by US President Joe Biden and European Commission President Ursula von der Leyen.

The parties agreed to organize a dedicated working group to monitor Europe's energy needs. According to sources, the agreement also calls for increased US LNG shipments in 2023.

Earlier, Russia's armed forces announced the completion of the "first stage" of their mission in Ukraine, according to a statement made by a top Russian military commander.

Colonel-General Sergey Rudskoy, the chief of the Russian military’s Main Operational Directorate, told reporters during a briefing that Russia has reached its objective for the first portion of its military operation in Ukraine, and said that the armed forces will now devote its full attention to Donbass, adding that the Ukrainian armed forces' combat potential "has been significantly reduced."