EU Energy Ministers Discuss Ukraine Energy Crisis and Russian LNG
Officials said that EU energy ministers met on Tuesday in Luxembourg to discuss the rising Russian LNG imports into the EU, Ukraine's energy shortages before winter and how to equalize energy prices among member states.
In June, the EU approved a 14th set of sanctions including a ban of transhipments of Russian Gas as of March of next year. However, it did not impose a complete ban. Belgium and the Netherlands saw a dramatic increase in imports since then.
In a Monday letter, France and nine countries asked the European Commission for stricter reporting requirements on Russian LNG (liquefied natural gases) by storage companies and suppliers.
Kai Mykkanen (Minister of Climate and Environment for Finland) told reporters before the meeting that "Belgium would file and we would support an initiative to track and ban LNG imports from Russia in a more structured way."
The EU made an announcement shortly after Moscow invaded Ukraine in February 2022. It did not specify a specific date, but stated that it would phase out Russian fossil fuels as soon as possible.
"We've seen a double-digit increase in LNG volumes in Belgium." They are likely to be used for the security of supply in Europe, but we have difficulties implementing this (14th package), that's why Tinne van Der Straeten is Belgium's Energy Minister.
After the Nord Stream pipeline blew up in 2022 the EU imported more Russian LNG, but piped gas continues to flow via Ukraine and Turkey into central Europe.
Krzysztof Blesta, Poland’s energy minister, stated that some countries' internal problems cloud their judgement and prevent a quick switch. But it has been over two-and-a-half years, so it is time to find a solution.
The contract between Ukraine, Russia and Ukraine for gas flow via Ukraine will end in December.
UKRAINE Ahead of Winter
International Energy Agency reported that Ukraine's electricity shortage could reach 6 gigawatts. This was exacerbated due to the termination of the Russian pipeline agreement.
The Commission will provide an update to countries on Tuesday regarding efforts to extend the Russia - Ukraine pipeline agreement. Ukraine has said that it will not continue, while Russia is willing.
Ministers will also consider practical ways to support Ukraine during the winter. Ursula von der Leyen, the Commission's President, said that Russia has knocked down the "power equivalent" of three Baltic States and is aiming to restore 15% of Ukraine’s needs.
Poland has said that it is in talks with Ukraine’s transmission companies about increasing exports, while Lithuania demolished a power station which was being rebuilt in Ukraine.
Ministers will be discussing Mario Draghi, former ECB governor and report on competitiveness. The incoming Commission should then draft their new Clean Industrial Deal based on this report.
Gas and electricity prices in Europe are significantly higher than those in the United States and other countries, and vary widely across the EU. The Greek Prime Minister asked the EU in September to respond urgently to the soaring prices of power in Central and Eastern Europe.
Draghi urged a quicker deployment of greener energy solutions that are cheaper. The efforts have been hampered by aging power grids and red tape.
Kadri SIMSON, EU Energy Commissioner, told the meeting that there was still work to be done in terms of simplifying grid project authorisations, mobilizing funding and doing more integrated planning. ($1 = 0.9173 euros) (Reporting and editing by David Evans; Julia Payne)
(source: Reuters)
