EU Goal to Cut Russian Gas Supply but No Plans for Sanctions

European Commission deputy director-general for energy, Matthew Baldwin says the EU has no plans to sanction imports of Russian LNG or pipeline gas according to Montel.

• Unanimity needed to impose sanctions would be difficult to get with several countries still reliant on Russian supplies.
• The EC was “exhorting member states” and companies to minimise Russian gas imports as much as possible, he said. “The goal to get out of Russian gas remains,” he said. “We’re lucky that we can afford to pay for US LNG.”
• The EU aims to phase out dependence on Russian pipeline gas by 2027 and in August EU Energy Commissioner Kadri Simson said the region must also reduce Russian LNG imports and look to phase them out entirely.
• Efforts to source alternative supplies and reduced demand helped Russian pipeline and LNG gas supplies to European fall by nearly 60% year on year to 35bcm in Jan-Sep 2023 according to Montel’s estimates.
• Energy security risks for this winter from cold weather and future supply cuts remain despite almost full gas storage, said Baldwin.