The European Union’s recent ban on Russian coal wasn’t enough for Ukrainian President Volodymyr Zelenskiy, who demands an immediate halt to all energy imports to stop funding Vladimir Putin’s war.
However justified the criticism of foot-dragging, the bloc is making strenuous efforts to curb Russian oil and gas.
Key Reading:
-
A New World Energy Order Is Emerging From Putin’s War on Ukraine
-
Russia’s Invasion Supercharges Push to Make a New Green Fuel
-
European Gas Rises as Orders for Russian Flows Via Ukraine Fall
Germany, the EU’s biggest economy, is looking to cut off almost all Russian crude by the end of 2022. EU Commission President Ursula von der Leyen has set a goal of substituting nearly two-thirds of gas imports this year.
The race is now on to replace all that energy.
Italy, which relies on Russia for about 40% of its gas, said yesterday that it will boost imports from Algeria. Rome already takes gas from Algeria via pipeline, but much of Europe’s replacement supply will be in the form of liquefied natural gas shipments that require new infrastructure.
Germany, which gets some 50% of its gas from Russia, is fast-tracking the construction of two LNG terminals.
The U.S., Qatar and Nigeria are all being courted for LNG, but there are also moves afoot closer to home in the eastern Mediterranean.
Frans Timmermans, the EU’s climate chief, was in Egypt on Sunday to discuss possible LNG supplies. Greece, Israel and Cyprus said yesterday they were looking at creating a joint LNG facility.
Investment in all that fossil fuel infrastructure at a time of climate crisis is unpalatable to many, even if some LNG terminals can one day be retrofitted to handle green hydrogen.
But in the short-term, there’s no way around it.
As Germany’s Economy Minister Robert Habeck — a Green — concedes, political reality means getting your hands dirty. — Alan Crawford