European Commission approved plan to phase out Russian gas

The European Commission (EC) presented on Tuesday a draft "roadmap" for ending the import of Russian energy resources into the EU.

This was announced at a press conference in Strasbourg by EC member for energy Dan Jørgensen.

"Today we approved the roadmap, and next month we will present the commission's legislative proposals," he said.

The "roadmap," according to the EC publication, provides for "the gradual removal of Russian oil, gas, and nuclear energy from EU markets, which will take place in a coordinated and safe manner as our energy transition progresses."

"The measures were developed to maintain the security of energy supplies in the EU, while limiting any impact on prices and markets," the document states.

It is expected that the EU will replace up to 100 billion cubic meters of natural gas by 2030, which means a reduction in demand by 40-50 billion cubic meters by 2027. At the same time, LNG capacity is expected to increase by approximately 200 billion cubic meters by 2028, which is five times more than the EU's current imports of Russian gas.