EU May Revise Green Objectives to Abandon Russian Energy

Following Russia's invasion of Ukraine in February, the European Commission suggested that Europe reduce its reliance on Russian gas supplies by two-thirds this year and phase them out entirely by 2027.

In May, the Commission is expected to present a "Repower EU" proposal outlining how the union might phase out Russian fossil fuels.

"What we're going to do over the next few weeks is work on what I'm calling the Repower EU program, which includes accelerating the energy transition. Thus, in that framework, we may reconsider our objectives "Timmermans said this to journalists on a visit to Cairo.

Timmermans declined to provide specific numbers for potential revised standards, but said such an adjustment would result in a "greater proportion of renewable energy in 2030."

By 2030, the EU's current plans call for renewable energy to account for 40% of final consumption.

Egypt, which is hosting the COP27 climate conference in November and re-exports Israeli gas from LNG facilities on its Mediterranean coast, might assist the EU in diversifying its gas supplies, Timmermans said.

"If we can get more LNG in the area - and we'll have to wait and see how much Israel makes available - that would be a viable option," he added.

"At its heart, what I'm presenting is a long-term strategic collaboration that begins with LNG and swiftly expands to include renewable energy, particularly hydrogen," he continued.