EU’s “terrible” plan to reduce dependence on Russian oil and gas

Presenting its “REPowerEU” plan on May 18, the European Commission said it would work to cut Russia’s gas consumption across the bloc by 66% by the end of the year, and completely end dependence on Russian gas. by 2027 by conserving energy, finding alternative sources, and accelerating the transition to renewable energy.

“We are taking our ambitions to another level to ensure that we will be independent from fossil fuels of the European Union,” EU Commission President Ursula von der Leyen told CNN. Russia as quickly as possible.”

Part of Gazprom’s gas pipeline in the Amur region – Russia Photo: Reuters

Since Russia launched its military campaign in Ukraine at the end of February, the EU has sought to reduce its dependence on Russian energy. The bloc agreed to ban Russian coal from next August and in April cut its share of Russian gas imports from 40% last year to 26%.

The new plan also aims higher, to rapidly increase imports of liquefied natural gas from the US and Canada, and increase the flow of gas pipelines from Norway.

The European Commission has also established a platform that allows countries to buy energy together, with the aim of helping to reduce selling prices. Ms. Von der Leyen said of the joint energy purchase program: “When Europe acts together, it has more influence. In this way it is possible to secure the imports of the energy we need without competition between the countries. Member States”.

The EU plan also highlights energy-saving tactics as the “fastest and cheapest way” to solve the crisis. Europe will encourage people and businesses to cut energy use, such as turning off lights and using less air conditioning, and says the move could reduce the bloc’s demand for oil and gas by 5%. in short term.

In the longer term, the EU will raise its target of at least 40% of its energy from renewable sources to 45%. The bloc plans to significantly cut permitting times for new renewable energy projects.

Ms Von der Leyen thinks the package will “accelerate” the bloc’s transition to renewable energy and includes a plan to double the bloc’s solar capacity by 2025.

The bulk of the €210 billion in new investment between now and 2027 will be financed through the EU’s post-Covid-19 recovery fund.

Parts of the EU’s plan to end Russia’s energy dependence are proposals for legislation that need to be approved by EU member states, while the rest are recommendations.

The EC said it would take more time for landlocked countries heavily dependent on Russian oil to find alternative sources.

The EU plan also outlines how the bloc would react if Russia completely shuts down its valves for gas exports to the EU. Ms. Kadri Simson, European Commissioner for Energy, said: “Unlocking Europe from the bloc’s biggest energy supplier will be difficult. However, the economic benefits of ending dependence will be very difficult. will be much larger than the short-term costs of the REPowerEU plan”.