EU Courtroom of Auditors warns in opposition to reliance on LPG

2024-06-24 15:24:00

Has the EU shifted from one dependency to a different relating to fuel? The most recent report comes from European Courtroom of Auditors Luxembourg’s (ERH) not less than exhibits the issue. The EU has managed to considerably scale back its share of pure fuel imports from Russia, however its reliance on imported liquefied pure fuel (LNG) has elevated, the report stated.

In 2021, earlier than Russia’s assault on Ukraine, Russian pipeline fuel nonetheless accounted for 41% of EU fuel provides (45% of EU fuel imports) – auditors beforehand calculated that this share was solely 10% (15%) in 2023.

The share of LNG has reached 34%

Throughout the identical interval, LNG’s share elevated from 22% to 34%. Nevertheless, there are vital variations between EU member states: for instance, in April 2024, 81% of Austria’s pure fuel imports got here from Russia, in accordance with the Power Ministry’s dashboard.

ERH auditors stated: “Given its dependence on international fuel, the EU can by no means relaxation straightforward relating to safety of provide.” joao leon Quoted in broadcast. “Shoppers additionally don’t have any assure that costs will stay reasonably priced within the occasion of extreme shortages sooner or later.”

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The effectiveness of EU emergency measures can’t be really confirmed

Auditors wrote of their report that insofar as emergency measures had been taken by the EU within the wake of the power disaster, their contribution to reducing fuel costs and making certain provides couldn’t be really confirmed. For instance, pure fuel demand might have declined by 15% throughout the disaster, however it’s unclear whether or not that is really a results of these measures or simply excessive costs and a gentle winter. Worth caps on fuel exchanges and mixed fuel purchases additionally had no discernible impression.

EU member states are more and more known as upon to conclude “bilateral solidarity agreements” on fuel provides. Given the EU’s ambition to attain local weather neutrality by 2050 (additionally within the pure fuel sector), progress have to be made in CO2 seize, use and storage (Carbon Seize, Use and Storage, CCUS) applied sciences.

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