Social Governance

EU Moots Plans To Cut Gas Dependence on Russia

Published on: 05 March 2022
by KnowESG
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A Brief Summary

The European Commission has embarked on a mission and plans to reduce its Russian gas addiction by drawing a 10-point strategy. The ongoing war has made the EU wean off gas imports from Russia. The commission aims at a resilient EU energy system that helps reduce reliance on a single supplier.

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The commission considers setting mandatory gas storage levels for its member nations. The EU should have an average storage filling of at least 80 per cent by September to prepare for the coming winter. It heavily relies on Russian gas, accounting for around 45 per cent of its imports from Russia.

The draft is due to be presented on March 8 and may feature many other measures aimed at the EU's renewable energy capacity. EU member nations have to assess, map and ensure land and sea availability for renewable projects and are advocated to use revenues from the EU's carbon market, the Emissions Trading System, to fund new installations.

Meanwhile, the EU looks forward to boosting biogas, reckoning a bloc-wide production of 35 billion cubic meters by 2030. It also has a solar strategy that will include measures to speed up installation and help develop a value chain for solar energy.

“The implementation of the Fit for 55 proposals will already lead to a reduction in the EU’s reliance on gas by 23% by 2030,” according to the draft text.