Today: Thursday, 11 August 2022 year

FT calculated the cost of the EU in the rejection of Russian oil and gas

FT calculated the cost of the EU in the rejection of Russian oil and gas

The FT estimates that the EU will have to spend approximately 195 billion euros to get rid of Russian oil and gas. This amount will be needed by the EU countries in the next 5 years. 

Such a budget is included in the accelerated energy transition project prepared by the European Commission. It notes that a quick rejection of Russian energy resources is possible only through a reorientation towards clean energy.Forced measures will be such that by 2030 the EU will have to reduce energy consumption by 13%, instead of the planned 9%. They plan to do this by increasing energy efficiency.Europe plans to start using green hydrogen in the amount of up to 20 million tons per year in the next 8 years. Accordingly, half of which will be imported.

The FT is going to release the white paper on May 18th.