The U.S. government has committed to exporting up to 353 Bcf of natural gas to the UK next year as part of a strategic partnership aimed at strengthening commodity markets in Europe.

As a part of the initiative disclosed Wednesday, called the UK-US Energy Security and Affordability Partnership, the countries have formed a joint action group. UK and White House officials said the partnership could stabilize global energy markets and lessen dependency on Russian commodities. Under the agreement, the United States would strive to export at least 318-353 Bcf, or 9-10 billion cubic meters (Bcm), over the next year. 

Russian President Vladimir Putin’s war “has caused an international spike in energy prices,” stated UK Prime Minister Rishi Sunak’s office. “To help deal with...