London (CNN Business)Europe could cut its consumption of Russian natural gas this year as it prepares to break with its biggest energy supplier over the war in Ukraine.
EU officials are due on Tuesday to unveil plans that would “significantly reduce” the region’s dependence on Russian gas in 2022, climate policy chief Frans Timmermans told EU lawmakers on Monday.
“I think we can come up with a plan…that will significantly reduce our dependence on Russian gas as early as this year and make us independent of importing Russian gas within years. I think it’s possible, it’s not easy, but it is possible.” said Timmermans.
The European Union is dependent on Russia for around 40% of its natural gas. Russia also supplies about 27% of the oil that the 27-country bloc imports each year. Collectively, this trade is worth tens of billions of dollars a year to Russia and helps fund President Vladimir Putin’s war effort.
“The only way not to pressure us is to stop being their customer for our vital energy resources,” Timmermans told the European Parliament’s Environment Committee on Monday. “The only way to do that is to accelerate our transition to renewable energy sources.”
Russia’s massive energy exports so far have sprung from the unprecedented sanctions imposed by the West in response to Putin’s decision to order his troops to invade Ukraine. But its crude is already shunned by some traders and oil companies, and US officials are discussing an import ban as Russia continues its military action.
EU leaders made it clear this week that the bloc cannot yet join the United States in banning Russian oil, as it would impact homes and businesses already grappling with record-breaking fuel and heating prices to have.
Chancellor Olaf Scholz said on Monday that oil and gas were deliberately left out of previous rounds of sanctions because of their “essential importance” to citizens’ lives. Other EU member states, including Hungary and the Netherlands, are also opposed to a ban.
But Europe knows it must act quickly to reduce the potential for Moscow to use energy as a weapon in the escalating economic war sparked by Russia’s invasion of Ukraine. Russian Deputy Prime Minister Alexander Novak said Monday Russia could block gas supplies to Germany via the Nord Stream 1 pipeline in retaliation for Scholz blocking the Nord Stream 2 pipeline project.
“In connection with the baseless allegations against Russia … and the imposition of a ban on Nord Stream 2, we have every right to make a mirror decision and impose an embargo on pumping gas through the Nord Stream 1 gas pipeline, which it is today with 100% charged at most,” Novak said in a televised address.
Timmermans said Monday that EU countries needed to make more of their own energy by investing in solar, offshore wind, hydrogen and biomethane. They should also do more to reduce energy use by upgrading buildings.
“We have to relieve our citizens who are suffering too much from the high energy prices. We also need to make sure we’re ready for next winter,” he said.
The International Energy Agency said last week that within a year Europe could make a big dent in Russian gas imports while accelerating its clean energy transition “in a safe and affordable way”.
“No one is under any illusions anymore. Russia’s use of its natural gas resources as an economic and political weapon demonstrates that Europe must act quickly to be ready to face significant uncertainties over Russian gas supplies next winter,” said IEA Executive Director Fatih Birol.
Europe should not sign new gas deals with Russia that maximize supplies from other countries, accelerate the use of sun and wind, make the most of existing low-emission energy sources such as nuclear and renewables, and step up energy efficiency measures in homes and businesses, the agency said.
“Taken together, these steps could reduce the European Union’s Russian gas imports by more than 50 billion cubic meters, or more than a third, within a year,” the IEA estimated.
— CNN’s Angela Dewan, Anna Stewart, Boglarka Kosztoanyi, and Inke Kappeler contributed to this article.
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