Europe sets 2027 deadline to end reliance on Russian oil and gas

The head of the European Commission Ursula von der Leyen said that the European Union plans to get rid of Russian energy resources by 2027.

Leyen noted: «We want to be completely independent of Russian fossil fuels by 2027. And we hope to reduce our demand by two-thirds by the end of this year.»

Details of the plan to implement the supply restriction will be presented by the end of May. 

The EU Energy Summit was held on March 24-25. The EU leaders discussed expanding the supply of liquefied natural gas (LNG) to the region from other countries, in particular, from the United States.  

The administration of President Joe Biden expects that the countries of the European Union will stop buying gas and oil in Russia in the coming years. The United States offers EU countries to diversify energy sources by gradually stopping energy supplies from Russia. The States themselves have promised to supply an additional 15 billion cubic meters of American liquefied natural gas to Europe this year. Last year, the US delivered 22 billion cubic meters of LNG to the EU.

However, some experts believe that the United States does not have enough capacity to export more gas, and Europe does not have enough capacity to import an increased amount of «blue fuel». This year, Europe accounts for about 75% of American LNG supplies. Last year, this figure was 34%.