The European Commission has presented a new plan to phase out energy from Russia

The Commission identified three principles for accelerating the phase-out of Russian oil and gas: reducing energy consumption, finding new suppliers and accelerating the transition to renewable energy

The process of EU phase-out of Russian fossil energy sources will be based on three principles: it is saving energy, accelerating the transition to renewable sources and diversifying supplies, said the head of the European Commission, Ursula von der Leyen.

Von der Leyen stressed that the process is progressing well in presenting the finalized exit plan. She recalled that the European Union refused coal from Russia, and Russian gas supplies in 2022 began to occupy 26% in the structure of EU consumption— against 40% in 2021.

However, the reduction of the EU's dependence on Russian hydrocarbons must be accelerated. This can be done at three levels, von der Leyen explained.

  • Energy savings for consumers. The head of the European Commission called it the fastest and cheapest way to respond to the current energy crisis.
  • Replacing supplies from Russia with gas from other reliable suppliers.
  • Accelerate the transition to clean renewable energy. At this level, the EC proposes to increase the share of renewable energy in the total composition of its sources from 40 to 45%.

All this will require impressive funding, said von der Leyen. The EU will need €300 billion for these purposes

The EC presented the first version of the strategy for the transition to other energy sources in early March. It said that Europeans should strive to diversify suppliers by increasing imports of LNG and pipeline gas from other sources, increase production and imports of biomethane and fuel hydrogen, and accelerate the reduction in the use of fossil fuels for heating.

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In early May, Bloomberg reported that one of the ways to diversify gas supplies Brussels considers increased cooperation with African countries. In particular, “untapped potential in the field of liquefied natural gas” Nigeria, Senegal and Angola have. The agency claimed that a decision on deliveries from there could be made at the end of May.

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