The EU seeks to get rid of Russian dependence on energy

While Russia's attack on Ukraine caused natural gas prices to reach record levels, it also brought Europe to the brink of a crisis. While the high dependence on Russia for energy aggravates the current situation, gas prices are increasing day by day, threatening both the production on the industrial side and the heating needs of households.

"We need to be independent of Russian gas, oil, and coal"

In her speech, Ursula von der Leyen, President of the European Commission, said that if the situation in Ukraine deteriorates, the European Union will take additional steps against Russia. She said, "We need to be independent of Russian gas, oil, and coal. Our determination on this issue is stronger than ever" The EU is preparing for Russian retaliation against Western economic sanctions. A draft study leaked to the media includes a plan to diversify Europe's gas supplies and a "new energy contract" that will increase renewable energy capacity across the union.

Diversifying gas supply

Europe looks set to survive this winter thanks to its current gas reserves and liquefied natural gas (LNG) deliveries. However, according to the European Commission, it should continue to seek alternatives to Russian gas. In the short term, this diversification will take the form of increased LNG imports from countries such as the USA and Qatar. Every EU member country now has a direct or indirect connection with an LNG terminal. LNG imports in January reached record levels. The total number of LNG terminals in EU member countries is 21. This figure reaches 24 in the UK. Germany has started preparations for the construction of two new LNG terminals. The Union's share in the global LNG market is currently around 15 percent. It is planned to increase this share in the upcoming years. However, it does not seem possible to close the gap that may arise from Russian gas with LNG. According to a report by ICIS, even when all LNG terminals in Europe are operating at full capacity, they can meet 40 percent of the total demand. Therefore, long-term measures are needed. The Commission's long-term goal is to increase the amount of alternative gases, such as biogas and hydrogen, as well as renewable energy capacity.

New energy contract

Electrification and renewable energy are seen as key to reducing Europe's dependence not only on Russia but also on the outside world. In this context, the Commission is putting forward a new energy contract for a joint effort to increase renewable energy capacity across Europe. The aim of the contract is to mobilize additional investments, remove obstacles to the spread of renewable energy and enable consumers to take an active role in the energy market.

Energy prices are not slowing down

With the start of the war, short-term measures have gained greater importance. However, none of the proposed measures can not seem to slow down the rise in energy prices. This war once again showed everyone that energy policies should not be created solely for economic motives. Because energy means security and needs geopolitical evaluation.