US energy chief: EU could stop buying Russian gas in a year

Chris Wright, the U.S. Energy Secretary, said on Friday that the European Union can replace Russian gas with U.S. Liquefied Natural Gas within 6-12 months. The United States has communicated its position to EU officials in this week.

Wright spoke in Brussels on Thursday, when he met with EU Energy Commissioner Dan Jorgensen to discuss the end of Europe's purchase of Russian energy. The EU is currently negotiating legal proposals that will phase out the imports of Russian gas and oil by January 2028. Short-term contracts will be banned from next year.

Wright was asked how fast the EU could eliminate Russian gas. "I think it could be done easily within 12 months or maybe even within six months," Wright replied.

"I voiced my opinion that we could do it quicker. We could move the dates up on the U.S. end, and it would be a good idea. "I don't think that will happen, but we had a dialogue," he said in reference to his meeting Jorgensen.

A spokesperson for the European Commission did not respond immediately to a comment request.

In an effort to stop the war in Ukraine, the U.S. has increased pressure on Europe to reduce energy revenues to Moscow. Fuel revenue, Russia's largest export, has been used to fund the war.

Jorgensen, who spoke on Thursday, said that it is unacceptable for the EU to continue to import Russian oil and gas. However, he added that the phase-out by 2028 was ambitious and would prevent EU countries from experiencing energy shortages or price spikes.

Ursula von der Leyen, President of the EU Commission, said that this week Brussels was considering a quicker phase-out of Russian fuels in order to implement new sanctions against Moscow. She did not specify how Brussels would achieve this.

All 27 EU member states must unanimously approve any new sanctions. Hungary and Slovakia were against sanctions on Russian Gas until now. This is why the EU suggested the 2028 phase-out, which could be approved by an increased majority of EU member countries.

Wright stated that the faster you phase out Russia, the quicker you will be able to put pressure on them.

According to EU figures, Europe will purchase 13% of its natural gas from Russia in 2018. This is down from 45% just before Russia invaded Ukraine on a full scale in 2022.

(source: Reuters)