British Prime Minister Rishi Sunak is poised to announce a major natural gas deal with the U.S. after the COP27 climate change summit, the Telegraph newspaper reported on Nov. 7.

Britain hopes the U.S. will promise about 10 Bcm of LNG over the coming year, the report said, adding that discussions about the deal are in their final stages and an announcement could come in a week or two.

But it also said that wrangling over the exact amount continues and it was possible that a specific figure would not be given when the deal is publicized. It was also unclear how much of the gas—which will be sold by U.S. companies—will be in the U.K. energy system this winter, the Telegraph said.

Earlier this year, the U.S. agreed to supply 15 Bcm of LNG to the EU to help it cope with the energy crisis caused by Russia's invasion of Ukraine.

Britain’s National Grid has said that Britain’s ability to secure gas supply would depend upon its prices being high enough to attract exports from Europe and LNG from countries such as Qatar and the U.S.

U.S. LNG producers’ ability to supply more fuel will rise only modestly until 2025, when three new plants become fully operational, according to U.S. government estimates. The plants will add 5.7 Bcf/d to the about 11.75 Bcf/d of exports expected this quarter.

Wholesale gas prices have soared in recent months as economies reopen from COVID-19 lockdowns while high demand for LNG in Asia has resulted in less supply to Europe.

Around 12 British energy suppliers have collapsed this year, affecting more than 2 million customers.

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