Energy, the European Union and Russia
The ongoing tensions between Ukraine and Russia is an excellent occasion for the European Union to assess its dependence from foreign fossil fuels, especially oil and natural gas from the Russian Federation.
As Kees van der Leun noted on his Twitter last week, the EU buys to Russia over half a billion euros of oil and natural gas each day. The amounts total over 200 billion euros ( $277 billion ) a year.
Here is more data : the European Union currently buys over six million barrels of oil per day to Russia, for an amount of over $600 million (430 million euros).
Additionally, last year Europe paid $61 billion (44 billion euros) to Russia for natural gas alone… Such figures make you wonder why we aren’t working more on renewables and energy efficiency…
The more the EU will be ambitious on its climate and energy package for 2030, the less it will be depending from Russia or other nations to power itself.
As an example of this Greenpeace UK have published estimates of how much gas imports – not only from Russia – could be slashed by 2030 according to various scenarios.
While imports would be decreased by a meagre 13.2% with a single 40 % emissions reduction, they could be slashed by 27% with more ambitious targets of 45 % emissions reduction coupled with a dual target of 35 % renewables and energy efficiency.
I wonder what these figures would look like with 50 % emissions reduction by 2030…
This is yet another reason to push forward even more energy efficiency and renewables.