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New EU Task Force Aims for Energy Security

ENERGY

The EU announced in a statement this week it has established an energy diversification task force which will help the bloc transition away from Russian fossil fuels – it formally starts work on June 1.

  • The task force has been set up to implement the commission's REPowerEU strategy, which proposes replacing around 25bn-50bn m³/yr of Russian gas with 20.6mn t/yr of renewable hydrogen by 2030, 10mn t/yr of that imports.
  • The group will deal with international negotiation of energy supplies and relay it back to EU member states and neighbouring countries as well as demand aggregation and co-ordination of capacity.
  • The task force launched a platform for common purchasing of gas, LNG and hydrogen in April.
Energy BulletsCommodities
Energy BulletsCommodities

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