EU has failed to cut energy ties with Russia – commissioner
EU energy chief Dan Jorgensen has pledged to present a new plan targeting Russian oil, gas and nuclear fuel, Politico has reported Read Full Article at RT.com
Dan Jorgensen has pledged to present a new plan targeting Russian oil, gas and nuclear fuel, Politico has reported
The EU has failed to overcome its dependence on Russian energy, and needs a new plan to wean itself off Moscow’s supplies, the bloc’s new energy chief told Politico on Thursday.
In his first interview since taking the post, Dan Jorgensen highlighted the growth in Russian liquefied natural gas (LNG) purchases.
The share of Russian LNG on the EU market reached 20% this year, according to the Agency for the Cooperation of Energy Regulators, despite Brussels’ pledge to stop consuming Russian fuel by 2027.
“It’s obvious to everybody that something new needs to happen because… now it’s beginning to go in the wrong direction,” the EU Energy commissioner said, while pledging to present “a tangible roadmap that will include efficient tools and means for us to solve the remaining part of the problem.”
The new measures will target “gas primarily, but also oil and nuclear” and will be formulated by mid-March, Jorgensen said, noting that five EU countries still rely on Russia for nuclear fuel.
The EU declared its intention to end its dependence on Russian energy supplies following the escalation of the Ukraine conflict in 2022. Supplies of higher-cost US fuel have replaced much of the cheap pipeline gas that was previously delivered by Russia.
However, efforts have stalled in recent months, and the EU continues to buy billions of euros’ worth of Russian gas each month. In 2024, the bloc is expected to import 10% more LNG from Russia than in 2023, according to energy analytics firm Kpler.
Politico noted, however, that any plan to sever energy ties with Russia in the next few years would be strongly opposed by EU members that are still heavily reliant the imports, particularly Hungary and Slovakia, whose leaders Viktor Orban and Robert Fico have resisted energy sanctions on Russia.
Jorgensen’s proposal is also likely to come just weeks after a long-term contract for Russian gas transit via Ukraine is set to expire, on December 31. The EU still receives around 5% of its gas from Russia via Ukraine’s gas transit network, according to the latest data.
Last month, Bloomberg warned of an imminent energy crisis in Western and Central Europe due to the latest US sanctions against Russia’s Gazprombank, the primary bank for energy-related transactions. The outlet said that rapidly depleting gas reserves and potential supply cuts from Russia threaten to exacerbate an already difficult situation.
