BAKU, Azerbaijan, October 24. The EU rapidly diversified its energy sources, reducing its dependence on Russian imports and securing its energy supply, the European Commission said, Trend reports.
In its latest report, the Commission noted that the EU Energy Platform played a vital role in achieving this diversification by aggregating demand.
As of October 2023, three successful tendering rounds resulted in a combined demand of 44.75 bcm with supply bids totaling 52 bcm.
Meanwhile, Russian gas imports dropped to approximately 80 bcm in 2022 and are estimated to be around 40-45 bcm in 2023, a significant decrease from the pre-crisis level of 155 bcm. To compensate for this reduction, the EU increased its imports of natural gas and LNG from Norway and the US.
At the same time, despite some growth in Russian LNG imports, the overall share of Russian gas (both LNG and piped natural gas) in total EU imports declined from 45-50 percent in the pre-crisis years to just 15 percent, with Russian pipeline gas falling below 10 percent since January 2023.
The EU also expanded its efforts to promote methane abatement, addressing both climate action and energy security, the European Commission noted. Initiatives like 'you collect/we buy' schemes enhanced gas supply availability for the EU and the global market.
Furthermore, the EU and its energy-intensive industries reduced energy demand compared to pre-COVID-19 levels, saving over 18 percent in gas consumption compared to the previous five years. Simultaneously, the EU filled its gas storage facilities to 95 percent capacity before the winter of 2022-2023, preventing energy disruptions. The EU also achieved its target of reaching 90 percent capacity in gas storage facilities ahead of schedule, hitting the mark on August 18, over two months before the actual deadline - November 1, 2023.
