Importance of Russian oil & gas supplies for Europe to decrease

In the long term (in 20 years), the importance of oil and gas supplies for Europe will decrease, Austrian President Alexander Van der Bellen said during a discussion at the Representative Office of the European Commission in Vienna together with Estonian President Kersti Kaljulaid, Report informs referring to ngv.

Van der Bellen noted that this trend will also affect Russian supplies. He said that the decrease in the role of oil and gas will be caused by the efforts of Europe in the fight against the climate crisis.

The EU has set itself the goal of achieving carbon neutrality by 2050, which should contain the rise in global temperatures. In April, the World Economic Forum’s Energy Transition Index Report was published, which is assessed in terms of economic development, environmental stability and energy security. Of the 115 countries included in the ranking, only 13 have made steady progress over the past ten years. The top 10 ranking includes Sweden, Norway, Denmark, Switzerland, Austria, Finland, the UK, New Zealand, France and Iceland.

Ruslan Edelgeriev, adviser to the President of the Russian Federation and Special Presidential Representative on Climate Issues, noted earlier that the acceleration of the climate agenda in the developed countries is fraught with their rejection of Russian oil and gas.