Latest news with #DanJørgensen
Int'l Business Times
3 days ago
- Business
- Int'l Business Times
EU's REPowerEU Plan Aims to Eliminate Russian Gas and Oil Imports by 2028
The European Union has outlined a comprehensive plan under its REPowerEU initiative to completely phase out imports of Russian gas and oil by the end of 2027, aiming to bolster energy security and market stability across the bloc. According to BFMTV, the European Commission presented the legislative proposal on Oct. 17, 2023. It introduces a phased ban on both pipeline gas and liquefied natural gas (LNG) from Russia, starting with the suspension of all new import contracts signed after October 17, 2023, which will take effect in January 2024. From Jan. 1, 2026, the import of Russian gas under new contracts will be formally prohibited. Short-term existing contracts will expire by June 17, 2026, with exceptions granted only to landlocked countries receiving pipeline gas through long-term agreements, which may continue until the end of 2027. Furthermore, from January 1, 2028, all contracts for LNG terminal services involving Russian clients or entities controlled by Russian firms will be banned. Despite opposition from some member states, including Hungary and Slovakia, the European Commission intends to adopt the regulation via qualified majority voting, bypassing the need for unanimous approval, Mediapart reported. Each EU member state will be required to submit national plans detailing specific measures and milestones to phase out Russian fossil fuel imports. These plans are designed to ensure a coordinated and consistent approach across the EU. "Russia has repeatedly used its energy exports as a tool of coercion," said European Commission President Ursula von der Leyen, as quoted by Il Sole 24 Ore. "We are committed to ending our dependency and closing the chapter on Russian fossil fuels in Europe." Dan Jørgensen, European Commissioner for Energy, added: "The less energy we import from Russia, the more secure and independent Europe becomes." To support the transition, companies holding contracts for Russian gas will be required to disclose them to the European Commission. Importers must also provide customs authorities with comprehensive documentation detailing the gas's route from origin to point of entry into the EU. The European Commission asserts that the EU gas market is sufficiently interconnected and equipped with the infrastructure needed to support this transition. It also notes the availability of alternative suppliers in the global market to maintain energy security and competitiveness, according to Il Sole 24 Ore. Since Russia's invasion of Ukraine in 2022, the EU has significantly reduced its reliance on Russian fossil fuels. Russian gas imports, which accounted for 45% of EU consumption in 2021, have dropped to 19% in 2024 and are projected to decline to 13% in 2025 due to the cessation of gas transit through Ukraine, reported SKAI. Nevertheless, EU member states still spent €23 billion on Russian fossil fuels in 2024, with gas alone comprising €15 billion of that total, BFMTV noted. The Commission, alongside the Agency for the Cooperation of Energy Regulators (ACER), will monitor the implementation and impacts of the transition. Safeguards have been included in the proposal to mitigate gas market volatility and provide legal protections for businesses during the phase-out process. The legislative package will now proceed to negotiations with EU member states and the European Parliament. Approval will require backing from at least 15 out of 27 member countries, representing at least 65% of the EU's population, according to BFMTV.
The Guardian
3 days ago
- Business
- The Guardian
Europe will never return to Russian gas, European Commission insists
The European Commission has insisted there will be no return to Russian gas, as it published plans to phase out fossil fuel imports from its eastern neighbour by 2028. The EU energy commissioner, Dan Jørgensen, said a proposed ban on Russian gas imports would remain, irrespective of whether there was peace in Ukraine. EU officials recalled when Russia cut gas supplies in 2006, 2009, 2014, as well as the deliberate reduction of flows in 2021 before the full-scale invasion of Ukraine, which contributed to a huge rise in energy prices and surging inflation across the continent. Under the proposals, European companies would be banned from importing Russian gas or providing services at EU liquified natural gas terminals to Russian customers. Any contracts entered into from today would have to be wound up by 1 January 2026, but companies with pre-existing agreements have a final deadline of 1 January 2028. The proposal is facing a backlash from Hungary, Slovakia and Austria, but these countries are not thought to have enough support to block the plan from becoming EU law. Jørgensen told reporters that plans to phase out Russian fossil fuels were not a response to the full-scale invasion of Ukraine: 'This is a ban that we introduce because Russia has weaponised energy against us, because Russia has blackmailed member states in the EU and therefore they are not a trading partner that can be trusted. That also means that, irrespectively of whether there is a peace or not – which we all hope there will be of course – this ban will still stand.' EU importers will be required to provide customs officers with detailed information about the source of gas to prevent any attempts to sell Russian imports under a new flag. About 13% of EU gas imports is expected to come from Russia in 2025, compared with 45% in 2021. While Europe has cut supplies of pipeline gas from Russia, in 2024 it bought record amounts of Russian LNG, raising questions about the EU's commitment to Ukraine and climate goals. The commission expressed confidence that European companies terminating long-term gas contracts would not be liable for damages. Jørgensen said the EU ban was beyond any individual company's control: 'It is not them who are breaking the contract, it is indeed force majeure.' The EU also wants to end imports of Russian oil by 2028, compared with 3% today and 27% in 2021. But the latest proposal does not remove an exemption from the EU's oil embargo granted to Hungary and Slovakia. When the EU agreed an oil import embargo in March 2023, the central European countries secured an opt-out that allowed them to continue to be supplied via the Soviet-era Druzhba pipeline. This carve-out, agreed under the EU's sanctions regime, cannot be touched by this legislation, which has a different legal basis. Hungary and Slovakia have sharply criticised the EU plans to phase out fossil fuels. Péter Szíjjártó, the Hungarian foreign minister, claimed Hungarian consumers could pay four times more for utilities, posting a video on social media on Monday in which he spoke against a dramatic action-movie style soundtrack. EU officials reject suggestions that prices would go up. In more muted criticism, Austria's energy ministry told the Financial Times that the EU should be open to resuming gas imports from Russia if there was a deal to end the war in Ukraine. However, Lena Schilling, an Austrian Green MEP and a former Fridays for the Future activist, called the stance shortsighted and morally irresponsible: 'Have we learned nothing from bombed hospitals, abducted children and a war of aggression in the heart of Europe?' she asked.
E&E News
13-06-2025
- Business
- E&E News
European Commission to present new data center energy rules early 2026
BRUSSELS — The European Commission plans to tighten data center energy performance standards as part of a new 'energy efficiency package' due in early 2026. According to the International Energy Agency, global power use by data centers is set to more than double in just five years. In Europe, the surge in energy-hungry artificial intelligence is pushing power grids to their limits and redrawing the data center map. At the IEA's Global Energy Efficiency Conference in Brussels on Thursday, Energy Commissioner Dan Jørgensen said almost €100 billion ($116 billion) had been saved from energy bills as a result of the rollout of renewables, but that figure could rise dramatically if there is less power wastage. Advertisement 'Energy efficiency measures make it possible — without lowering standards or comfort, and at the same time saving money,' Jørgensen said while unveiling a 10-point energy efficiency plan.
Yahoo
22-05-2025
- Business
- Yahoo
EU imports of Russian energy: how much Russia has earned
The European Union spent €23 billion on Russian energy in 2024 despite having significantly reduced consumption. Source: European Commissioner for Energy and Housing Dan Jørgensen, as reported by Radio Liberty Quote: "Before 2022, half of the coal we used in the EU was from Russia. This we have stopped completely. On oil, we have gone from 26% to 3% of our oil being from Russia. And finally gas. We have gone from 45% of our gas coming from Russia in 2022 to 13% today. So, we have come far. But not far enough. Last year, we in the EU paid €23 billion to Russia for our energy imports." Details: Jørgensen has announced new rules that will enable Russian gas to be tracked on the market. He added that the European Commission expects member states to draw up national plans for phasing out Russian energy. "These plans need to be ready by the end of this year," Jørgensen stated. "Also to address the illegal oil entering the market via Russia's 'shadow fleet' we tighten the grip." He stressed that the European Commission does not envisage any possible future scenario in which Nord Stream would be used to transport Russian energy to Europe. Background: On 19 May, it was reported that the EU would propose lowering the current price cap on seaborne Russian oil (US$60 per barrel) to G7 finance ministers. Support Ukrainska Pravda on Patreon!
Yahoo
13-05-2025
- Business
- Yahoo
EU vows they won't import "even a single molecule" of Russian oil and gas
The EU has declared it will not import "even a single molecule" of Russian gas or oil. Source: European Commissioner for Energy Dan Jørgensen in Warsaw, before an informal meeting of European energy ministers, as quoted by Ukrinform and reported by European Pravda Details: Jørgensen emphasised that the EU will not allow Russia to weaponise energy or use it as a tool of blackmail. He explained that the EU has decided to end imports of Russian energy, a move he described as vital for the bloc's security and its solidarity with Ukraine. He added that this remains a key priority on the EU's agenda. When asked about US-Russia talks in the context of ending the war in Ukraine, and speculation about resuming imports of Russian gas to Europe, he emphasised that the EU has no intention of importing "even a single molecule" of Russian energy now or in the future. Jørgensen underscored that the EU's position is unequivocal: it will not rely on Russian energy currently, nor will it do so after peace is achieved, sending a firm message to Moscow. Background: On 6 May, the European Commission presented a roadmap for the complete cessation of Russian gas imports by the end of 2027, while also minimising Russian oil imports. However, Hungary and Slovakia continue to rely on Russian gas and oil pipelines as their primary sources. Slovak Prime Minister Robert Fico said that the European Commission's roadmap, in its current form, is unacceptable to the Slovak government. Hungarian Prime Minister Viktor Orbán agreed, stating that "President von der Leyen's proposal will bankrupt Europe and place an unbearable burden on Central European families". Support Ukrainska Pravda on Patreon!
