Dan Jorgensen has pledged to current a brand new plan focusing on Russian oil, gasoline and nuclear gasoline, Politico has reported
The EU has failed to beat its dependence on Russian power, and wishes a brand new plan to wean itself off Moscow’s provides, the bloc’s new power chief instructed Politico on Thursday.
In his first interview since taking the publish, Dan Jorgensen highlighted the expansion in Russian liquefied pure gasoline (LNG) purchases.
The share of Russian LNG on the EU market reached 20% this yr, in accordance with the Company for the Cooperation of Power Regulators, regardless of Brussels’ pledge to cease consuming Russian gasoline by 2027.
“It’s apparent to all people that one thing new must occur as a result of… now it’s starting to go within the mistaken route,” the EU Power commissioner stated, whereas pledging to current “a tangible roadmap that can embody environment friendly instruments and means for us to unravel the remaining a part of the issue.”
The brand new measures will goal “gasoline primarily, but in addition oil and nuclear” and shall be formulated by mid-March, Jorgensen stated, noting that 5 EU nations nonetheless depend on Russia for nuclear gasoline.
The EU declared its intention to finish its dependence on Russian power provides following the escalation of the Ukraine battle in 2022. Provides of higher-cost US gasoline have changed a lot of a budget pipeline gasoline that was beforehand delivered by Russia.
Nonetheless, efforts have stalled in current months, and the EU continues to purchase billions of euros’ price of Russian gasoline every month. In 2024, the bloc is anticipated to import 10% extra LNG from Russia than in 2023, in accordance with power analytics agency Kpler.
Politico famous, nevertheless, that any plan to sever power ties with Russia within the subsequent few years can be strongly opposed by EU members which can be nonetheless closely reliant the imports, notably Hungary and Slovakia, whose leaders Viktor Orban and Robert Fico have resisted power sanctions on Russia.
Jorgensen’s proposal can be more likely to come simply weeks after a long-term contract for Russian gasoline transit through Ukraine is ready to run out, on December 31. The EU nonetheless receives round 5% of its gasoline from Russia through Ukraine’s gasoline transit community, in accordance with the most recent information.
Final month, Bloomberg warned of an imminent power disaster in Western and Central Europe as a result of newest US sanctions in opposition to Russia’s Gazprombank, the first financial institution for energy-related transactions. The outlet stated that quickly depleting gasoline reserves and potential provide cuts from Russia threaten to exacerbate an already troublesome scenario.
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