The European Commission next month is to propose a ban on new Russian gas deals by the end of this year, and a ban on imports under existing contracts with Moscow by the end of 2027, a draft document seen by Reuters shows.
The EU in 2022 vowed to end its decades-old energy relations with former top gas supplier Russia after its full-scale invasion of Ukraine. The commission was yesterday to unveil a “road map” outlining how it would do this.
A draft of the road map, seen by Reuters, said the European Commission would next month present a legal proposal to ban remaining Russian gas and liquefied natural gas (LNG) imports under existing contracts by the end of 2027.
Photo: Reuters
The commission would also next month propose a ban by the end of this year on imports under new Russian gas deals and spot contracts, the draft says.
“If implemented in alignment with global market developments and reliable suppliers, the phase-out of Russian gas imports is expected to have limited impact on European energy prices and security of supply,” it says.
A European Commission spokesperson declined to comment on the draft, which could still change.
It also detailed plans for the EU to oblige companies to disclose the volumes and duration of their Russian gas contracts. EU countries would be required to produce national plans for phasing out Russian gas, and oil in the case of Slovakia and Hungary, which still import more than 80 percent of their oil from Russia.
The legal proposals would need approval from the European Parliament and a reinforced majority of EU countries.
The EU has imposed sanctions on Russian coal and most oil imports, but not on gas due to opposition from Slovakia and Hungary, which receive Russian pipeline supplies and say switching to alternatives would hike energy prices. Sanctions require unanimous approval from all 27 EU countries.
About 19 percent of Europe’s gas still comes from Russia, via the TurkStream pipeline and LNG shipments — down from about 45 percent before 2022.
The European Commission has signalled willingness to buy more LNG from the US to replace Russian volumes, a step US President Donald Trump has demanded as a way of shrinking the EU’s trade surplus with the US.
The US is pushing Russia for a peace deal with Ukraine, which, if reached, might reopen the door for Russian energy and ease sanctions.
Global LNG supply is expected to remain tight this year, but with fresh supply due from next year in countries including the US and Qatar, a global surplus is expected by 2030, the International Energy Agency has said.
The EU is also betting on renewable energy to slash its overall fossil fuel use.
The draft document did not specify what legal options the EU plans to use to allow European firms to break their Russian gas contracts without facing penalties.
European buyers still have “take-or-pay” contracts with Gazprom, which require those that refuse gas deliveries to pay for much of the contracted volumes.
Lawyers have said it would be difficult to invoke “force majeure” to quit these deals without exposing buyers to financial penalties or arbitration.
The EU imported 32 billion cubic meters of Russian gas via pipeline and 20 billion cubic meters of Russian LNG last year. Two-thirds of Europe’s remaining Russian gas imports are under long-term contracts, while one-third is uncontracted “spot” purchases.
The draft document said the commission also propose trade measures next month, designed to make imports of Russian enriched uranium “economically less viable.”
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