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Climate change: EU unveils plan to end reliance on Russian gas

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Climate change: EU unveils plan to end reliance on Russian gas

March 9, 2022 admin Comments Off

As countries scramble to reduce their reliance on Russia’s oil and gas in the wake of its invasion of Ukraine, few places are as exposed as the European Union.

The EU gets roughly 40% of its gas from Russia: According to figures from research group Transport & Environment, this dependence costs around $118m a day.

But moving with a speed few thought possible, the EU has now laid out a strategy that could cut reliance on this fuel source by two thirds within a year.

The REPowerEU plan aims to make Europe independent of Russian fossil fuels by 2030, but the initial efforts focus solely on gas.

The roadmap essentially proposes finding alternative supplies of gas in the next few months and boosting energy efficiency while doubling down on greener sources of power in the medium to longer term.

“It’s hard, bloody hard,” said EU Commission vice president Frans Timmermans.

“But it’s possible if we’re willing to go further and faster than we’ve done before.”