Strikes on Iran could derail EU’s full phase-out of Russian gas
Illustrative photo: strikes on Iran could derail the EU’s full phase-out of Russian gas (Getty Images)
The war in Iran could affect Europe’s energy stability and once again intensify discussions within the EU about a complete ban on imports of Russian natural gas, states Norway’s Minister of Energy, Terje Aasland, according to Reuters.
Gas prices in Europe have risen by 75% this week, reaching multi-year highs. The increase was driven by an escalation of hostilities in and around Iran, which has affected energy exports from Persian Gulf countries.
In particular, major liquefied natural gas exporter Qatar suspended production on Monday.
Speaking at a conference in Oslo, Norway’s Minister of Energy Terje Aasland said that recent developments had complicated the market situation.
"The EU has been very clear that they want to liberate themselves from Russian oil and gas, but then the events of the last three-four days have also been difficult," he said.
According to him, given the current geopolitical situation, the discussion about abandoning Russian gas could resume.
"With the geopolitical situation we see now, I believe the debate will be revived," the minister added.
EU phase-out of Russian gas and the Middle East conflict
Recently, European Union countries gave final approval to a ban on Russian gas imports by the end of 2027 — nearly four years after Russia’s full-scale invasion of Ukraine.
Norway, the continent’s largest gas producer, currently covers about 30% of Europe’s gas demand and supplies around 20% of its oil.
Meanwhile, amid escalating tensions in the Middle East, Iran has threatened to fire on any vessel attempting to pass through the Strait of Hormuz — a strategic route in the southern Persian Gulf.
Gas from Qatar, which accounts for about 20% of global liquefied natural gas supplies, is transported via this route.
Media outlets have also reported that China is pressuring Iranian officials to refrain from actions that could disrupt Qatari gas exports or other energy shipments through the Strait of Hormuz.
