The European Commission is exploring measures that might enable EU companies to terminate long-term Russian gas contracts without incurring penalties, potentially declaring force majeure. This initiative is part of a broader strategy to phase out Russian fossil fuels by 2027, a roadmap due for release on May 6. Amidst an ongoing war in Ukraine, EU leaders are committed to weaning off Russian energy, but recent data shows increasing imports of liquefied natural gas from Russia, challenging the 2027 goals, as some officials express renewed interest in Russian gas.
The European Commission is deliberating whether to allow companies to declare force majeure to escape penalties on Russian gas contracts, part of a strategy to end dependency.
EU leaders are determined to phase out Russian gas due to its funding of the war in Ukraine, aiming for a complete exit by 2027.
Despite commitments, EU imports of Russian liquefied natural gas surged last year, raising concerns that the 2027 phase-out goal could be jeopardized.
Current increases in pipeline imports, despite the suspension of gas flows through Ukraine, suggest ongoing reliance on Russian energy contradicts EU's long-term strategy.
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