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Europe Set's Plans to Drop Russian Energy

ENERGY

The European Commission is set to release a €210 billion plan today for how Europe can move away from Russian fossil fuels by 2027.

  • The plans are expected to include short-term moves to increase LNG imports from Egypt, Israel and Nigeria in a bid to move away from Russian gas. This will also include improving European LNG import infrastructure.
  • Plans for renewables are also expected. The EU had already committed to lessen gas demand by a third by 2030. The switch to renewables is part of the plans to move away from Russian gas. Renewable hydrogen will play a large part in this.
  • The Commission is also expected to outline energy saving measures to reduce consumption.
Energy BulletsCommodities
Energy BulletsCommodities

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