By refusing energy from Russia, albeit gradually, European companies will be able to purchase more oil, gas and other energy resources in the US, said the head of the European Council Antonio Costa.
The European Union should see the “roadmap” for refusing Russian energy resources on May 6, Bloomberg reminds. It is being prepared by the European Commission, and the document should contain proposals and tools on how to terminate long-term supply contracts with the Russian Federation, avoiding fines and compensation.
The European Union will continue to reduce imports from Russia. Currently, Russian gas accounts for about 19% of the bloc’s market, although in 2021 the share of Russian energy resources was 40%, Costa said in an interview with Bloomberg News.
He also acknowledged that many European companies have long-term contracts with Russian suppliers, and the decision to terminate them or enter into contracts for the supply of American liquefied methane is a decision of the companies themselves, which depends on their strategy and tactics, pricing issues and market outlook.
“The political signal that the commission sends is that European companies have good reasons to find good prices in the United States,” he said.
