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EU working hard to diversify towards reliable suppliers – Ursula von der Leyen

Oil&Gas Materials 8 September 2022 11:46 (UTC +04:00)
EU working hard to diversify towards reliable suppliers – Ursula von der Leyen
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, Sept.8. The European Union has been working very hard to diversify away from Russia towards other reliable suppliers, like for example the United States or Norway, Azerbaijan, Algeria and others, said President of the European Commission Ursula von der Leyen in a statement, Trend reports citing the Commission.

“We have done three things, as you recall: The first one was demand reduction. Demand reduction, so save gas in order to save it in the storage. We have created a joint storage, and this is really a success story, because now we are already at 82% with the joint storage in Europe. As you know, our goal was to reach 80% at the end of October. So we overshoot it, and that is good.

The second step that we have taken was: Diversify away from Russian fossil fuels. And you know that we have stopped the import of Russian coal. We are winding down the Russian oil. And we have been working very hard to diversify away from Russia towards other reliable suppliers, like for example the United States or Norway, Azerbaijan, Algeria and others. Actually today, Norway is delivering more gas to the European Union than Russia. And we were able, if you look at the cuts that Russia has done in gas, to completely compensate so far the gas imports through other reliable suppliers,” she said.

Ursula von der Leyen noted that the third step is the most important one.

“This is massive investments in renewables. We have REPowerEU on the table. The renewables are cheap, they are home-grown, they make us independent. We will deploy renewables this year that are an equivalent to round about 8 billion cubic metres. So the renewables are really our energy insurance for the future,” the EU Commission’s president explained.

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