The European Union announced on Tuesday its intention to reduce its dependence on Russian gas by two thirds this year and to end it “well before 2030”, in a bid to tear countries away from energy dependence on Moscow. The invasion of Ukraine by Russia, the EU’s biggest gas supplier, has heightened fears of supply disruptions and heightened scrutiny of countries’ dependence on imported fossil fuels.

The EU of 27 countries depends on Russia for 40% of its gas. Russian supplies in Europe have remained stable since the invasion, which Russia calls a “special military operation”. However, prices rose to record highs on Monday as Moscow warned that Western sanctions on Russian oil – an idea backed by the United States – could prompt it to close a major gas pipeline to Europe.

This is what the European Commission’s plan contains, which EU member states will be largely responsible for implementing. DIVERSIFY THE OFFER

In the short term, Brussels wants EU countries to buy more non-Russian gas. Concerns about disruptions to Russian flows have led the EU to seek alternative supplies from countries such as the United States, Qatar and Japan. Non-Russian liquefied natural gas (LNG) and pipeline imports could this year replace more than a third, 60 billion cubic meters (bcm), of the 155 bcm Europe receives annually from Russia, the Commission said. .

European imports of liquefied natural gas (LNG) hit a record high of around 11 billion cubic meters in January. By 2030, increased biomethane production could displace an additional 35 billion m3, and green hydrogen another 25-50 billion m3, of gas imports per year, the Commission said – although this would require important investments to increase production.

RENEWABLES, ENERGY SAVING The EU is negotiating a range of new climate change policies, including targets to scale up renewables and cut energy consumption faster over the next decade. These proposals would reduce EU gas consumption by 30% by 2030.

The Commission has said that a faster switch to green energy, in addition to these plans, could further reduce gas demand – although some countries are already saying they need more EU funding to make the huge up-front investments needed to meet climate change goals. New wind and solar projects could replace 20 billion m3 of gas consumption in the EU this year. Tripling capacity by 2030, adding 480 GW of wind power and 420 GW of solar power, could save 170 billion m3 per year.

The Commission will make recommendations in May to speed up permits for renewable energy projects. Europeans who lower their thermostats by 1°C could save an additional 10 billion cubic meters of gas consumption this year. By 2030, replacing gas boilers with 30 million heat pumps could save 35 billion m3 and energy efficiency investments such as building renovations could save 38 billion m3 , added the Commission.

ENERGY BILLS Governments in most of the 27 EU member countries have introduced emergency measures such as tax breaks and subsidies to protect households from higher energy bills, which have jumped these months in a context of soaring gas prices.

Countries can also tax the profits of energy companies on high gas prices and use the proceeds to offset higher electricity bills, the Commission said. The International Energy Agency said such taxes could raise 200 billion euros ($218 billion) this year. The Commission is also considering emergency state aid rules to allow countries to give more support to companies hit by high energy prices.

SUPPLY BUFFER The EU says it has enough gas in stock and non-Russian supplies to get through this winter, should Russian imports come to a halt – although a prolonged shutdown could force countries to use emergency measures like plant closures to curb demand.

The Commission will propose rules in April requiring EU countries to fill gas storage to 90% by October 1 each year, to protect against supply shocks. EU gas storage is currently 27% full.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)