Cutting Off Gas Imports from Russia Set for Completion by 2027
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The EU Commission has come up with a bold plan to kick Russia's gas supplies to the curb. On Tuesday, they unveiled a multiple-step strategy, promising to prohibit companies from signing fresh deals with Russian gas suppliers starting next year. By 2027, no pipelines shall carry Russian gas into the EU. However, the Council of the 27 EU member states and the European Parliament must still grant their consent.
Ursula von der Leyen, EU Commission President, declared on Tuesday, "Russia has consistently used energy supplies as a weapon and a pretext for bullying us. We've drawn a line in the sand, vowing to sever the ties with Russian fossil fuels in Europe for good."
In 2021, Russian pipeline gas and liquefied natural gas (LNG) constituted approximately 19% of the 27 EU countries' gas imports, as per Commission data. A significant portion, around a third, derived from short-term contracts that can easily be terminated. The Commission intends to prohibit such deliveries from June 17 next year.
Certain exemptions will apply until the end of 2027 for deliveries linked to long-term contracts via pipelines to countries that lack water access and ports. Transitioning away from Russian pipeline gas proves challenging for these states, with Hungary and Slovakia likely to keep importing substantial amounts of gas from Russia in the coming two years.
Enrichment Data:- The proposed plan involves banning new contracts for Russian gas and LNG from January 1, 2026, but existing short-term contracts will be allowed to continue until June 17, 2026.- Imports under long-term contracts through pipelines will be permissible until January 1, 2028.- The plan includes legal measures to ensure it cannot be obstructed by EU member states.- The proposal will undergo legislative negotiations to reach a political agreement, requiring approval from the EU Council with a qualified majority and a simple majority vote from the European Parliament.
[1] afp.com[2] ntv.de[3] eu-commission.europa.eu[4] europa.eu[5] ec.europa.eu
Sources: ntv.de, AFP
- The EU Commission's recent announcement of phasing out Russian gas by 2027 marks a significant shift in the European energy policy, aligning with the general-news trend of disengaging from Russia amidst war-and-conflicts.
- As part of the employment policy, the EU Commission is taking a tough stance against Russian gas imports, banning new contracts from January 1, 2026, while allowing existing contracts to continue until June 17, 2026.
- Amidst intensifying industry debates on energy, the finance sector is closely monitoring the EU's move to prohibit Russian gas imports, with potential long-term implications for Europe's economy and political landscape.
