The European Union (EU) announced its intention to cut its gas imports from Russia by two-thirds this year, ahead of a bloc summit to discuss ways to end dependence on Russian hydrocarbons.
The European Commissioner for Energy, Kadri Simson, announced that the European Commission (EC) will present a draft legislation in April to establish an average level of reserve storage for the month of September, with specific objectives for each country.
The goal of reducing Europe’s dependence on Russian hydrocarbons was announced at a time when the United States is threatening a ban on Russian oil, a possibility that makes European countries wary of the potentially devastating effect of the measure.
Thus, Simson announced that the Commission intends to cut its dependence on Russia by using new gas supplies, increasing reserves for next winter and accelerating efforts to be more energy efficient.
“By the end of this year, we can replace 100 billion cubic meters of gas imports from Russia. That’s two-thirds of what we import from them,” European Commission Vice President Frans Timmermans, responsible for EU policymaking on energy and climate change, said in Strasbourg, France.
In his plan, the EU aims to become completely independent of Russian gas, oil and coal by 2030.
Timmermans, however, urged caution. Russia supplies 40% percent of the EU’s gas needs. Italy, Germany and several Central European countries are particularly dependent on that gas.
About 25% of Europe’s oil needs are also covered by crude oil imported from Russia.
This dependency has led EU nations to reject insistent calls by Ukraine and the United States to severely sanction Russia’s energy sector for the military invasion of Ukrainian territory.
“The reality is that there are a good number of our member states that would be in serious trouble if overnight Russia stopped providing” that energy, Timmermans admitted to MEPs.
Therefore, he added, “we must make sure that we do not harm ourselves more than Vladimir Putin,” he added.
The proposal, which is not binding, requires that 90% of the gas storage capacity in the EU be filled by September 30, compared to the current 30%.
Source: Gestion
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