European Union to Reduce Russia Energy Dependency

As part of its response to the ongoing conflict in Ukraine, the European Union unveiled new ideas on Tuesday that would reduce the bloc's reliance on Russian gas.

The European Commission revealed plans this year to reduce the bloc's reliance on Russian gas by two-thirds and terminate it "far before 2030," according to Executive Vice-President Frans Timmermans. He went on to say that the European Union needed to "jump into renewable energy at lightening speed."

According to the suggestions, the EU's executive body will do so by switching to alternative supplies and growing clean energy more swiftly, with member states bearing the brunt of the implementation burden.

According to the executive, gas and liquefied natural gas from nations such as the United States and Qatar might replace more than a third of the gas Europe imports from Russia this year. Increased biomethane and hydrogen utilisation could also help by 2030.

New wind and solar projects might meet some of this year's gas demand while also increasing capacity by 2030.

The invasion of Ukraine by Russia has infused a feeling of urgency into the European Union's efforts, not only because Russian gas enters the bloc through Ukrainian territory, but also because of fears that the Kremlin could shut off supply.

Within 'years,' the European Union hopes to be independent of Russian gas.

Russian gas accounted for 41% of the bloc's imports in 2019. Timmermans told the European Parliament on Monday evening that the ideas, which have been extensively changed in the days since Russian President Vladimir Putin dispatched troops to Ukraine, may "within years" render the EU gas-free.

The European Union is on the lookout for alternative energy sources, particularly liquefied natural gas (LNG) (LNG). The EU is in talks with major LNG customers such as Japan, South Korea, China, and India to shift surplus supply to Europe by sea, according to news agency DPA.

On the eve of the European Commission's statement on Tuesday, Russia's vice premier Alexander Novak retaliated, stating the European Union has "the complete right" to place an embargo on gas supply through the Nord Stream 1 pipeline in reaction to Germany's decision to block the Nord Stream 2 project.

The Nord Stream 1 pipeline, which brings Russian gas to Germany over the Baltic Sea, is "at a maximum of 100% use," according to Novak. A restriction on Russian energy imports, according to Novak, would have "catastrophic" consequences for Europe.

"Nobody will benefit from this," Novak told Russian state television. "Although European politicians are pushing us to this with their statements and accusations against Russia."

Although Berlin supports severe sanctions against Moscow, German Chancellor Olaf Scholz stated that Russian energy supplies are "vital" for daily living in Europe.

"Europe's supply with energy for heating, for mobility, power supply and for industry cannot at the moment be secured otherwise," Scholz said in a statement.

According to government figures, Russia is Germany's largest natural gas supplier, accounting for 38 percent of imports. Around a fifth of Germany's electricity is generated by gas.

More sanctions are possible, according to Dutch Foreign Minister Wopke Hoekstra, who spoke to reporters on Tuesday morning.

"No measures are out of bounds for the Netherlands, including energy," Hoekstra said.

"It's extremely important to take into account the position of all our European allies, some of them are much more dependent on oil and gas than the Netherlands. Others should be able to bear the burden as well," he added.

The Kremlin has warned that if the West tightens its economic sanctions against Russia by barring energy imports, the price of oil might skyrocket.