The European Union (EU) has failed to overcome its dependence on Russian energy and needs a new plan to "revive" the Russian gas supply, Dan Jorgensen, the new EU energy commissioner, told Politico magazine.
In his first interview since taking office, Dan Jorgensen highlighted the increase in purchases of Russian liquefied natural gas (LNG).
According to the Energy Regulatory Authority, Russia's share of the EU LNG market has reached 20% this year, despite the EU's commitment to stop consuming Russian fuel by 2027.
"There needs to be something new because things are starting to go in the wrong direction now," the EU energy commissioner said, pledging to present "a concrete roadmap that will include effective tools and means to address the rest of the problem."
The new measures will target primarily gas, but also oil and nuclear, Jorgensen said, and will be drawn up in mid-March. He noted that five EU countries remain dependent on Russia for nuclear fuel.
The EU has announced its intention to end its dependence on Russian energy supplies after the Ukraine conflict escalates in 2022. The supply of higher-priced US fuel has replaced much of the cheap gas via pipelines previously supplied by Russia.
However, efforts have stalled in recent months, with the EU continuing to buy billions of euros worth of Russian gas each month. According to energy analytics firm Kpler, the EU expects Russian LNG imports to increase by 10% in 2024 compared to 2023.
However, Politico noted that any plans to cut energy ties with Russia in the next few years will be strongly opposed by EU members that still rely heavily on import sources, especially Hungary and Slovakia. Hungarian Prime Minister Viktor Orban and Slovakian Prime Minister Robert Fico have opposed energy sanctions against Russia.
Jorgensen's proposal is also likely to come just a few weeks after the long-term contract for the transit of Russian gas through Ukraine expires on December 31. According to the latest data, the EU still receives about 5% of its gas from Russia via Ukraine's gas transit network.
Last month, Bloomberg warned of an impending energy crisis in Western and Central Europe due to the latest US sanctions on Russia's Gazprombank, the main bank for energy-related transactions. The news agency said gas reserves are rapidly depleting and the possibility of cutting supplies from Russia threatens to aggravate the already difficult situation in the EU.
