North American Transatlantic Resource Security Partnership Act of 2023

North American Transatlantic Resource Security Partnership Act of 2023

This bill requires or authorizes actions to reduce the reliance of U.S. partners and allies on Russian energy and minerals.

The bill requires the Departments of Energy (DOE) and the Interior to establish a program to reduce such reliance by specified allied and partner nations (including Japan, Korea, Ukraine, and NATO members). Under the program, the departments shall develop and provide to such nations domestic resources, materials, or equipment, along with financial and technical assistance.

The departments must also establish a program to promote cooperation with Mexico and Canada on energy issues. DOE must seek to establish an energy center with these countries to develop academic cooperation on energy-related topics, such as energy innovation technology and engineering.

These departments must also establish a supply chain reliability assurance program to (1) prioritize domestic activities, such as energy production and mining, that ensure secure supply chains; and (2) facilitate collaboration with Mexico, Canada, industry, and other federal agencies to develop a reliable domestic supplier base of critical energy materials and technologies (for example, those related to high-performance computing, energy storage, and nuclear energy).

The bill requires the Export-Import Bank to establish a portfolio to provide financing to certain energy infrastructure and critical minerals projects.

The bill also statutorily authorizes the U.S. International Development Finance Corporation to provide financing and other types of support for projects related to any type of energy (including fossil fuels, renewables, and nuclear energy). The corporation may not prohibit support for a project due to the type of energy involved.