THE REPOWEREU BATTLE PLAN TO END EUROPE’S DEPENDENCE ON RUSSIAN GAS
DOI:
https://doi.org/10.15407/economyukr.2023.06.053Keywords:
European Union; Russian gas; REPowerEU plan; gas independenceAbstract
Eight years after the annexation of Crimea, the Russian Federation launches one of the largest post-Soviet military and diplomatic conflict. This conflict is causing multiple upheavals, among which the European energy scene is in the forefront. Europe, which is highly dependent on Russian gas, is particularly affected.
At the invitation of the Heads of State and Government of the European Union, meeting at the Versailles Summit on March 10 and 11, 2022, the European Commission, which has suddenly become aware of its dependence on Russian gas, has presented the REPowerEU plan which aims to respond to the consequences of the war in Ukraine by making the European Union independent of Russian fossil fuels, especially gas.
This article analyses the lines of action around which the European Union's REPowerEU plan to emancipate itself from dependence on Russian gas is built, as well as the complementary measures that accompany it. It begins with an overview of the European gas market, highlighting the importance of gas to Europe and its dependence on Russian gas. It then describes the series of measures taken under the REPowerEU plan which aim to rapidly reduce dependence on Russian gas and accelerate the green transition, while strengthening the resilience of the European Union energy system. Finally, it highlights the two main emergency measures that accompany the REPowerEU plan.
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