Oxford Energy Podcast – EU plans to reduce Russian gas imports

In this OIES podcast James Henderson talks to Anouk Honoré and Jack Sharples about the EU plan to diversify gas imports away from Russia in 2022. They discuss the latest strategy published by the European Commission on March 8, which addresses both the supply and demand-side options. The podcast considers the potential to import an extra 50bcm of LNG and 10bcm of pipeline gas from alternative sources, as well as for the EU to generate an extra 3.5bcm of biomethane, and also discusses the outlook for indigenous production as a source of supply. On the demand side the potential for a shift away from gas in the power sector is analysed, with coal and nuclear considered as options in addition to the EU’s preferred acceleration of wind and solar, while in the residential sector efficiency measures and the installation of roof-top solar and heat pumps are the main targets. The discussants also consider the implications of the EU’s new demand that gas storage be 90% full by November 2022.