3D printed natural gas pipes are placed on the EU and Russia flags shown in this illustration, made on 31 January 2022. REUTERS / Dado Ruvic
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BRUSSELS, May 18 (Reuters) – The European Commission on Wednesday will unveil a 210 billion-euro plan on how Europe can end its dependence on Russian fossil fuels by 2027 and use the support away from Moscow to speed up the transition. its to green energy.
Russia’s invasion of Ukraine, Europe’s largest gas supplier, has prompted the European Union to rethink its energy policies amid heightened fears of supply shocks. Russia supplies 40% of the bloc’s gas and 27% of its imported oil, and EU countries are struggling to negotiate sanctions on the latter.
To turn countries away from these fuels, Brussels will propose a three-pronged plan: switching to more non-Russian gas imports, faster deployment of renewable energy and more energy-saving efforts, according to draft documents seen by Reuters.
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Draft measures that could be changed before they are published include a combination of EU law, non-binding schemes and recommendations that national governments can take.
Taken together, Brussels expects them to demand 210 billion euros in additional investment – which the EU plans to support by releasing more money for the energy transition from its COVID-19 recovery fund, which will ultimately reduce the billions of euros it has spent on. Europe spends every year importing fossil fuels.
The plans outline a short-term drive for non-Russian gas supplies, highlighting the potential to increase liquefied natural gas imports from countries, including Egypt, Israel and Nigeria, plus the infrastructure needed to move away from Russia.
Gas demand in Europe is expected to fall by about a third by 2030 in line with the bloc’s climate change targets, and the proposals are expected to set targets for producing 10 million tonnes of renewable hydrogen by 2030, and imports of another 10 million tonnes – which can be used to replace gas in industry to avoid blockage in years of emissions.
The Commission is considering proposing higher targets for expanding renewable energy and energy efficiency, with a 45% share of renewable energy by 2030, replacing its current proposal of 40%. A reduction in EU energy consumption of 13% by 2030 against expected consumption is also being discussed, replacing the current proposal of 9%.
Other parts of the package include an improved law offering one-year simplified permits for some wind and solar projects to reduce the long deadlines for issuing permits that hold back projects. Read more
New EU schemes to quickly launch large-scale solar deployment will also seek to reduce gas-fired electricity and heating in homes, offices and factories, requiring countries to install solar energy in all new public buildings by 2025. , according to another project. Read more
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Report by Kate Abnett Edited by John Chalmers and David Evans
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