On Tuesday, the European Union will unveil a plan to cut Russian gas imports by two-thirds within a year as it seeks to reduce its reliance on fuel supplies to the country in the wake of Moscow’s invasion of Ukraine.
Frans Timmermans, European Commissioner for the Green Deal, said the bloc could import more liquefied natural gas, rapidly increase renewable energy production and cut demand through efficiency measures. He acknowledged that countries may have to burn coal longer to avoid switching to gas.
Timmermans argued that the EU could still meet its targets to limit global warming by cutting greenhouse gas emissions by at least 55% by 2030 and reach zero by 2050 if renewable energy also grows rapidly.
Russia supplies 40% of the gas to the EU, with Italy, Germany and several Central European countries being particularly dependent on this gas. It also provides about 25 percent of crude oil.
The commission’s proposed savings are double those proposed by the International Energy Agency last week in its 10-point plan, as gas prices hit record highs due to rising global demand and the possibility of cutting off supplies from Russia. The proposal is also based on limiting energy consumption by lowering thermostat temperatures and improving home insulation.
“[If we] to increase the speed of the transition to renewable energy, combined with improving our energy efficiency, combined with the diversification of our energy resources, by the end of this year we could reduce our dependence on Russian gas by two-thirds,” Timmermans said in his report. interviews with several European publications.
“Creating your own energy resources is the smartest and most urgent choice,” he said to ensure supply security.
However, some countries may reconsider plans to use gas as a bridge between burning coal and replacing it with wind and solar power. “You can imagine that you will use coal a little longer, but only if you accelerate the transition to renewable energy.”
The draft proposal, to be released on Tuesday, seen by the Financial Times, calls for 80 percent of gas storage capacity to be filled by September 30, compared to about 30 percent currently. Brussels will allow governments to pay companies to store gas.
Timmermans said the EU could increase gas imports from other sources, including 10 billion cubic meters of pipeline gas from countries like Azerbaijan, as well as liquefied natural gas (LNG) from Qatar, Egypt and even Australia, by 50 billion cubic meters.
The EU has the capacity to import 160 billion cubic meters of LNG per year and manages only 7 billion cubic meters.
Timmermans also said he could double biogas production using agricultural and food waste from 17 billion cubic meters to 35 billion cubic meters by 2030 and quadruple hydrogen use to 20 metric tons, which would cut 50 billion cubic meters of gas, he said.
The plan calls for faster planning processes and increased investment, but that is in the hands of national governments.
The paper states that countries can use proceeds from the sale of carbon credits under the Emissions Trading Scheme.
Revenue from the sale of permits that allow major polluters to emit carbon from their activities was €30 billion in 2021, doubling from a year earlier, after prices rose to a high of over €96 as supply remained tight. However, in the last week they have fallen to around 65 euros.
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