EU plans to axe Russian gas by two-thirds in a year

The European Union is set to draft a plan for the reduction of Russian gas imports by two-thirds within a year as part of the overall intention to lower its fuel dependency on the country after Moscow’s operation in Ukraine, the Financial Times reported on Tuesday.

European Green Deal commissioner Frans Timmermans stated that the Union will have to import more liquefied natural gas, increase the development of renewable energy production and reduce demand with efficiency measures. However, he noted that the countries of the bloc might have to expand their coal utilization in order to avoid returning to gas.

Still, Timmermans asserted that the EU could reach its goal of limiting global warming by reducing greenhouse emissions by at least 55% by 2030, on the condition that there is a constant growth in renewable energy generation.