The European Union (EU) announced on Tuesday that it would reduce its exports to Russian gas by two thirds before the end of the year, in response to a Ukrainian offensive.
That marks a significant change because the EU is heavily dependent on Russia’s energy exports. The EU imported 45% of its total gas emissions from Russia by 2021.
This program is called REPowerEU.
Here is how the EU will achieve its goal, according to documents published by the European Commission, the EU governing body:
The EU has enough gas in storage – storage capacity is less than 30% – during the winter heat, the EC said, “even in the event of a complete disruption of imports from Russia.” But the EU must also refill its gas tanks before the next winter. The EU will make a legal proposal in April to set a target of filling 90% of gas storage tanks by October 1 each year. Until the law is passed, the EU “urges” member states to begin preparing for the filling of their gas storage tanks during the following winter heat. The EU is already negotiating with countries outside Russia to get gas through pipelines or liquefied natural gas, including Algeria, Azerbaijan, Egypt, Israel, Japan, Korea, Nigeria, Norway, Qatar, Turkey and the US. Those talks have allowed the EU. to import a record amount of liquefied natural gas in January and February. The European Commission has said those who develop the relationship will allow for another 50 billion cubic meters each year. Producing 35 billion cubic meters of biomethane by 2030, double the previously stated objectives. To do this, the EU will use biomass resources such as agricultural waste Creating a Hydrogen Accelerator to improve the required infrastructure, storage and port capabilities. The goal here is for the EU to convert 25 to 50 billion cubic meters a year for Russian gas imported by 2030 with renewable hydrogen, an electrolyte-produced hydrogen supported by renewable energy sources, such as wind or solar. Investing heavily in improving energy efficiency in homes, buildings and industry, which is estimated to save 25 billion cubic meters each year. Accelerate the release of renewable energy, both wind and solar, and heat pumps. In terms of solar, the EU should speed up the emission of solar systems from the roof by up to 15 terawatts this year, which will save 2.5 billion cubic meters of gas. The European Commission has promised more comprehensive engagement with the EU day strategy in June. The EU has also proposed the removal of 10 million heat pumps over the next five years. Accelerate permitting processes related to reconstruction and upgrade related grid infrastructure. The European Commission has promised more comprehensive communications in May on how to speed up the process of renewable consent. Provide financial means to allow for the development of power purchasing agreements in Europe. That process is already underway so most communications should be in the summer, the EC said..
As the EU lowers Russia’s import of natural gas, prices will likely rise. To ease the burden on consumers and small businesses, the EU has allowed member states to take a number of steps, in view of the “unusual current circumstances.” That includes:
The world has imposed severe sanctions on Russia’s economy as a result of the attacks, and on Tuesday the US and the United Kingdom said they would ban Russian imports.