EU prepares for winter without Russian gas transit via Ukraine – Bloomberg
Photo: The EU will spend the winter without Russian gas transit through Ukraine (Getty Images)
On December 16, European Union countries will discuss preparations for winter amidst the expiration of the gas transit agreement between Russia and Ukraine. The bloc is gradually phasing out fossil fuel imports from Moscow, Bloomberg reports.
At their first meeting with Denmark's Dan Jorgensen, the bloc's new Energy Commissioner, the ministers plan to explore options for lowering energy prices and strengthening the competitiveness of EU industries during the transition to green energy.
"Energy affordability remains a pressing concern, with volatile prices driven by geopolitical tensions, supply chain disruptions, and reliance on fossil fuel imports," Hungary, which will be chairing the meeting in Brussels as the holder of the current EU presidency, said in a document shared with energy ministers.
Strengthening EU industries during the clean energy transition has become a top item on the European political agenda following the unprecedented energy crisis that arose two years ago after Russia invaded Ukraine, leading to record-high electricity and gas prices.
At the ministerial meeting, the European Commission will update member states about preparations for this winter as the intergovernmental transit agreement between Kyiv and Moscow, which served as a basis for Russian pipeline gas deliveries to Europe, expires on December 31.
European Commission assessment
According to the Commission's assessment, the termination of the Ukraine-Russia agreement has already impacted European gas markets, but the region will be able to secure alternative supply sources.
The EU is confident that member states still importing Russian gas via Ukraine - primarily Austria and Slovakia - can manage without these supplies. The Commission has stated it will not engage in negotiations to keep the transit route open.
However, gas buyers in Slovakia and Hungary are continuing talks about extending supply agreements beyond the expiration of the transit deal. One of the proposals includes a swap deal between Azerbaijan and Russia.
Plans for future
As the new European Commission begins its five-year term, it plans to introduce a new Competitiveness Compass initiative on January 15. This political document will explore ways for the 27-member bloc to strengthen its security and reduce dependencies, building on a report published in September by former European Central Bank President Mario Draghi.
In the next phase, the bloc's executive body aims to issue a Clean Industrial Deal on February 26 - a detailed strategy to support the competitiveness of EU industries, including a plan to ensure affordable energy. Within the first 100 days, the Commission will present a roadmap for phasing out Russian fossil fuels, which still account for about 15% of the EU's imports.
As reported earlier, the new EU Energy Commissioner, Dan Jorgensen, has stated that his top priority is developing a plan to permanently sever all of the European Union's energy ties with Russia.
