European Commissioner describes scheme of rejecting Russian gas

The European Commission (EC) has prepared an emergency plan to stop importing Russian gas, European Commissioner for the Internal Market Thierry Breton said.

In an interview with the Italian newspaper la Stampa, the European commissioner said that Europe intends to replace 155 billion cubic meters a year, with 50 billion from LNG, 10 billion through a pipeline, particularly from North Africa or the East.

According to Breton, the EU also intends to reduce gas consumption for radiators and air conditioners by 14 billion cubic meters. The development of the energy sector based on biomethane and renewable sources will save another $25 billion.

However, in the event of a cessation of supplies from Russia, more serious measures may be required, he stressed. The European Union may have to take 'extreme measures' such as coal or fuel oil and joint purchases of gas.

"In parallel, we need to think about how to decouple the cost of electricity from gas because today we are seeing an absurdity," Breton said.

It should be noted that Russian President Vladimir Putin signed a decree on gas trade with 'unfriendly countries,' which implies payment for fuel supplies through ruble accounts in Russian banks.