EU Strengths Energy Independence Because Russian Energy Imports Phased out

Source: www.gulfoilandgas.com 5/31/2022, Location: Asia

EU leaders assessed progress on the phasing out of Russian gas, oil, and coal imports, which should happen as soon as feasible, as promised in the Versailles Declaration, taking into account the diverse energy mixes, conditions, and circumstances of EU member states.

In light of previous decisions on Russian import bans and the European Commission's REPowerEU initiative, EU leaders have called for:
- Diversifying supply sources and routes, as well as assuring energy supply at affordable prices, should be a short-term priority. In this regard, leaders encouraged the use of the EU energy purchase platform as soon as possible, ahead of next winter; invited the Commission to investigate ways to curb rising energy prices, including the feasibility of introducing temporary price caps; invited the Council to advance work on the EU external energy engagement strategy; and noted the importance of indigenous energy sources for supply security.
- quickening the deployment of renewable energy sources, which will include expediting permit-granting procedures for renewable energy projects as well as enhancing innovation, capacity, skills, and supply chains.
- wherever possible, enhancing energy efficiency and boosting energy savings.
- completing and improving European gas and electricity network interconnections by investing in infrastructure for existing and new projects, including future-proof electricity and hydrogen-ready gas interconnections across the EU, as well as renewable generation capacity.

The European Council further requested that the Council consider the Commission's proposals for achieving the REPowerEU goals, including their financing, as soon as possible.


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