The European Union is racing against time to stem its addiction to Russian natural gas as it's drawing accusations that it's funding the war in Ukraine.
The EU is in a position of weakness as it demands that Moscow end the war because of Putin's weaponization of energy.
It will be difficult for the EU to stop using Russian gas.
If energy imports from Russia were to be stopped, the EU's GDP could be slashed by up to 4.2 percentage points. Although the dependence on Russian natural gas is not evenly spread across EU countries, some major economies like Germany and Italy are reliant on the fuel.
It could take a long time to find replacements for Russian energy. Natural gas is the most expensive fossil fuel to ship to Europe than oil or coal.
Germany is feeling the pressure. If Russian gas were to be cut off, the country would be forced to ration gas.
If Russian oil and natural gas were to be stopped, a significant recession would be unavoidable, said Christian Sewing, the president of Germany's BDB bank lobby.
It's difficult for Germany to stop using it. Russia has been Germany's natural-gas supplier for about 50 years, and it has always been reliable, even during the Cold War and the collapse of the Soviet Union, according to Davide Oneglia. Russia is the largest supplier of natural-gas to Germany.
In order to wean itself off of Russian natural gas, Germany has to pay for it using a special payment plan or face a gas cut.
Austria buys about four-fifths of its natural gas from Russia, according to the government.
The Austrian energy minister said on May 6 that the country is confronting "uncomfortable truths" about its energy security and that it is working to eliminate Russian gas from the country's energy mix.
The managing director of the Austrian Energy Agency said in an April 26 statement that the country will only be able to eliminate its dependence on Russian gas by the year 2027.
If OMV were to cut off Russian gas immediately, Austria would be in a recession.
While we condemn the actions of Russia, we have no immediate alternative to keep our companies and households supplied with energy.
Italy has a lot of exposure to Russian gas. Half of the country's fuel is from Russia and 40% of its electricity comes from natural gas.
Rome is looking for alternatives to Russian gas and has recently signed deals with several African countries. Italy isn't in a good position to deal with Russia.
The Prime Minister of Italy held a phone call with Putin to find a solution to the food crisis.
If sanctions against Russia are lifted, Putin will open up grain andfertilizer exports.
If Italy stops Russian natural-gas imports in June, the country's GDP could fall by as much as two percentage points.
Some European countries are not worried about Russian energy supplies.
According to the US Energy Information Administration, France was the third largest importer of Russian gas in 2020. France doesn't seem to be concerned by the possibility of a Russian supply cut.
The lion's share of energy consumption in France is nuclear-generated, and Russian natural gas is only a small part of that. Nuclear power was the majority of the country's electricity needs in 2020.
France is one of the best places in Europe to deal with this.
Italy closed its power plants decades ago after the Chernobyl nuclear disaster.
France has announced six new nuclear reactor in the next few decades for its energy needs, but like the rest of Europe, it is also moving towards renewable energy.
Russia has stopped supplying gas to Poland, Bulgaria, and the Netherlands because of their refusal to pay in rubles. These countries don't seem to be in a state of panic.
According to the World Nuclear Association, one third of the country's capacity is generated by two nuclear reactor. A gas line with Greece is expected to start commercial operations in September, according to a report by the prime minister of Bulgaria.
The Gas Interconnector Greece-Bulgaria will allow gas to be transported from Turkey to Italy and beyond. It is expected to open on July 1.
The energy minister of Bulgaria said on April 26 that they had provided alternative quantities for a long time.
Poland began preparing for a Russian natural-gas cut many years ago, according to a deputy foreign minister. The US and the Middle East are possible sources of gas according to Przydacz.
The Dutch government stated on its website that they plan to import more natural gas from other countries than Russia. Due to concerns about earthquakes, it's shutting down its biggest gas field.
In 2020, renewable energy accounted for 9% of total energy consumption in the Netherlands, up from 8% in 2019. Increasing solar and wind power capacity was one of the reasons for the increased capacity.
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