Bloomberg: The EU to completely ban Russian gas imports in its all forms by the end of 2027
In line with the European Union’s efforts to reduce its dependence on Russian energy sources, the European Commission plans to unveil a new proposal next month aimed at banning imports of Russian gas, whether via pipelines or in the form of liquefied natural gas, by the end of 2027, according to Bloomberg.
According to Bloomberg, the European proposal, expected in June, is expected to include a gradual ban on all new gas deals with Russia, in addition to existing spot contracts, which represent about a third of the EU’s imports.
The implementation of this timetable depends on the European Union’s ability to secure alternatives from suppliers such as the United States, Qatar, Canada, and African countries.
This matter is being discussed as part of ongoing trade talks with the administration of US President Donald Trump, as part of efforts to secure reliable supplies of liquefied natural gas.
Despite the technical and commercial challenges, those familiar with the plan’s details confirm that its potential impact on energy prices and supply security will be limited, given the large quantities of liquefied natural gas expected to enter the global market in the coming years.
However, they cautioned that some details of the plan are still subject to change before its official announcement next Tuesday in Strasbourg.
European imports of Russian gas declined to about 19% of the EU’s total purchases last year, compared to more than 40% before the start of the war in Ukraine.
However, Russian gas, particularly liquefied gas, remains a challenge to the bloc’s efforts to decouple from Russian energy sources, particularly given the difficulty of exiting long-term agreements governing these supplies.
