The European Union is considering stepping up cooperation with African countries on gas supplies to reduce Russian fuel imports. EU countries intend to reduce dependence on Moscow in the energy sector by almost two thirds in 2022. The document, which expands external energy cooperation, may be adopted by the European Commission in late May, according to Bloomberg, citing a draft EU document.
The document states that African countries such as Nigeria, Senegal and Angola “have largely unrealized potential in the field of liquefied natural gas.”
The European Union intends to increase imports of liquefied gas by 50 billion cubic meters per year, and the supply of non-Russian pipeline gas by 10 billion cubic meters. The draft document states that this requires establishing relationships with traditional suppliers on new terms and expanding trade with new fuel suppliers.
The EU plan also envisages the supply of an additional 15 billion cubic meters of liquefied natural gas from the United States in 2022 and about 50 billion cubic meters annually by 2030. In addition, the EU intends to increase gas supplies from Azerbaijan to 20 billion cubic meters per year.
Earlier, Bloomberg reported that the EU authorities are going to propose an embargo on Russian oil by the end of the year, and before that gradually impose restrictions on imports. EU ambassadors plan to discuss new restrictions on Moscow in the coming days.
The oil and gas sector brings Russia up to half of budget revenues and most of its exports. Russia sells 70% of its gas and 60% of its oil and petroleum products to Europe. Most EU countries are taking steps to reduce Russian energy imports to limit the Kremlin’s ability to finance the war in Ukraine. Only Hungary unequivocally refuses to do so.
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