EU unveils plans to reduce dependence on Russian gas by two-thirds

Russia supplies approximately 40 per cent of European gas

Frans Timmermans, Executive Vice President of the European Commission, said the course of European history had been radically changed by the invasion of Ukraine by Russia. Picture: Getty

Europe will reduce its dependence on Russian gas by two-thirds this year through switching suppliers, ensuring European gas storage is full by next autumn, and jointly procuring gas at an EU level, according to a historic new plan published by the European Commission today.

The plan will also include a review of foreign owners of gas storage in Europe, following suspicions that Russian-owned sites were purposefully keeping gas stocks low in recent months. The plan ...