EU energy: What countries will fill the gap left by Russian gas?

The clock is ticking for the European Union.

The bloc is speeding to slash its deeply entrenched and extremely pricey dependency on Russian fossil fuels, the Kremlin’s most profitable exports and essential monetary lifeline behind the invasion of Ukraine.

However whereas Russian coal and oil have confirmed to be comparatively simple to sanction and part out, gasoline is a very totally different story.

Final yr, the EU purchased over 155 billion cubic metres (bcm) of Russian gasoline, imported primarily by way of the in depth pipeline community that interconnects Jap Europe. 

In an try to put an finish to those massive imports, the EU has set its sights on liquefied pure gasoline (LNG), which gives extra flexibility and better range of producers. However international demand for LNG has outpaced provide, driving up costs and fostering robust competitors between wealthy nations. 

Again in March, the EU signed a cope with the US to deliver an additional 15 bcm of LNG by the top of the yr. Then, in early June, European Fee President Ursula von der Leyen travelled to the Center East and introduced a trilateral memorandum to spice up LNG provides with Egypt and Israel.

These offers, nevertheless, are non-binding, that means that if suppliers are unable to fulfill the promised aims, the EU has no authorized avenue to treatment the state of affairs. Brussels is now stepping up its worldwide engagement to safe new partnerships and commitments.

In the meantime, Gazprom continues to chop or cut back gasoline flows to an growing quantity of member states, elevating the spectre of gasoline rationing.

Watch the video above to find the nations keen to fill the hole left by Russian gasoline.