The European Union would be able to cope with a partial disruption to gas imports from Russia, European Commission President Ursula von der Leyen said.
Escalating tensions with Russia over Ukraine have raised concerns about Russian gas flows to Europe, prompting the EU to review its contingency plans for supply shocks, and EU and U.S. officials to seek alternative supplies.
“Our models now show that for partial disruption or further decrease of gas deliveries by Gazprom, we are now rather on the safe side,” von der Leyen told reporters in Strasbourg on Tuesday (15 February).
Russia supplies about 40% of Europe’s natural gas. Gas prices soared in Europe as tight supply collided with high demand in economies emerging from the COVID-19 pandemic last year, and amid lower than expected imports from Russia.
The EU has spoken with the United States, Qatar, Egypt, Azerbaijan, Nigeria and South Korea about increasing gas and liquefied natural gas (LNG) deliveries, either through additional shipments or contract swaps, von der Leyen said.
“We have also spoken to major suppliers of LNG… in order to ask whether we could swap contracts in favour of the EU,” she said, adding that Japan was willing to do this.
“These efforts are now distinctly paying off.”
Japan last week said it would divert some LNG cargoes to Europe, in response to EU and US requests. European LNG imports hit a record high of around 11 bcm in January, with just under half coming from the United States.
“I welcome Japan’s decision to share its energy surplus with Europe, as a token of solidarity”, von der Leyen tweeted.
Source: National News Agency