The European Union will seek more gas from countries including the U.S. to replace Russian supplies, and expand renewable energy faster to cut its overall reliance on the fuel, the EU's energy commissioner has said.
The EU has pledged to quit Russian fossil fuels by 2027 in response to Moscow's 2022 invasion of Ukraine. While Russian pipeline gas deliveries have plunged, the EU increased its imports of Russian liquefied natural gas last year.
"Instead of using taxpayers' money, citizens' money, to pay for gas where the revenue goes into Putin's war chest, we need to make sure that we produce our own energy," EU energy commissioner Dan Jorgensen said in a joint media interview, referring to Russian President Vladimir Putin.
Jorgensen said Brussels was preparing changes to permit rules to speed up building renewable energy. For industries and home heating where gas cannot be quickly replaced by electricity, he said the EU would step up efforts to source alternative supplies.
"And then it's my job to make sure that it is cheap and not Russian," he said.
"There will still be the need for gas, and there we will have to find other sources than Russia, and that can also mean bigger import from the U.S."
European benchmark gas prices rose to two-year highs last week.
U.S. President Donald Trump warned before taking office in January the EU would face trade tariffs unless it imported more oil and gas from the United States.
The European Commission does not directly purchase gas, but has drawn up plans to engage with LNG suppliers and consider investing in LNG export infrastructure abroad to try to secure more long-term contracts with stable prices, draft documents reported earlier this week by Reuters showed.
Under EU law, European gas contracts must end by 2049 to align with the bloc's climate change target for net zero emissions by 2050.
Jorgensen declined to comment on the leaked draft documents, which the Commission is expected to publish next week.
But he confirmed the Commission was working on stricter controls of the gas market to avoid speculative trading causing price spikes, and would propose "financial instruments" next week designed to decouple retail power prices from high gas prices.
The EU's electricity market rules mean that, despite Europe's rapid expansion of renewable energy, the price of gas continues to set the power price many European consumers pay.
Ahead of the European Union leaders' two-day summit in Brussels, focusing on Ukraine, defence, and the economy, security is tight outside the EU headquarters.
EU Council has adopted its position on a regulation that will impose tariffs on remaining agricultural products from Russia and Belarus, as well as certain nitrogen-based fertilizers. These tariffs aim to reduce Russian export revenues, limiting Russia's ability to finance its war against Ukraine.
The European Union will convene its 9th international Conference in support of Syria on 17 March, in Brussels. For the first time, Syrian interim authorities have been invited, together with representatives of the United Nations, Syria's neighbouring states and other regional partners.
The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.
The eighth summit between the leaders of the EU and South Africa will take place in Cape Town, South Africa, on 13th March.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
A senior Russian official is expected to arrive in Washington this week for direct talks with the Trump administration, a source familiar with the plan confirmed.
From Wednesday, European visitors to Britain will need to purchase an Electronic Travel Authorisation (ETA) before arriving, as the UK implements new pre-entry screening measures to tighten border controls.
U.S. Defense Secretary Pete Hegseth has ordered the deployment of additional warplanes to reinforce American naval assets in the Middle East, the Pentagon confirmed on Tuesday. The move follows a renewed bombing campaign in Yemen and rising friction with Iran.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
President Donald Trump said a deal with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans would be struck before a deadline on Saturday.
Paul Marchant has resigned as CEO of Primark with immediate effect after admitting to an "error of judgment" in a social interaction last year. Parent company AB Foods expressed disappointment, citing the importance of integrity. Finance director Eoin Tonge will serve as interim CEO.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about $0.4 billion, which will be allocated for budget support.
Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
A senior Russian official is expected to arrive in Washington this week for direct talks with the Trump administration, a source familiar with the plan confirmed.
From Wednesday, European visitors to Britain will need to purchase an Electronic Travel Authorisation (ETA) before arriving, as the UK implements new pre-entry screening measures to tighten border controls.
U.S. Defense Secretary Pete Hegseth has ordered the deployment of additional warplanes to reinforce American naval assets in the Middle East, the Pentagon confirmed on Tuesday. The move follows a renewed bombing campaign in Yemen and rising friction with Iran.
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