IEA & EC join forces to reduce EU dependence on Russian fuels

The International Energy Agency (IEA) and the European Commission (EC) have reportedly teamed up to help EU nations reduce their dependence on Russia-sourced fossil fuels.

By reinforcing investments in energy efficiency and clean energy initiatives, the project intends to curb the impact of the Russia-Ukraine conflict on the EU energy sector.

Under this common venture, the Commission is supporting the Member States to curb their reliance on Russia-sourced fossil fuels via the Technical Support Instrument. Seventeen EU nations have already joined the initiative.

This backing aligns with the Commission’s REPowerEU Plan which has outlined plans to expedite the transition to clean energy and in turn reduce EU reliance on Russian fuels.

The collaboration with IEA will encompass the following seven areas:

Biomethane production
Diversification and supply of liquefied natural gas
Stepping up global hydrogen trade
Expediting the roll-out of rooftop solar and heat pumps
Demand-side energy efficiency and measures
Rapid sanctioning of renewable projects
Innovative renewables and hydrogen solutions for the industry

It will comprise meetings, analysis, workshops, and data tracking by the IEA.

The first workshop, which was conducted on May 24^th, focused on backing the uptake of energy efficiency and demand-side measures. Representatives of the Commission, Member States taking part in the project, IEA, and industry stakeholders attended the workshop.

Director-General for Structural Reform Support Mario Nava cited that it is crucial to mobilize all possible means to meet the target of reducing its energy dependence on third-party fossil fuels.

Nava added that the Member States can depend on the Commission’s assistance through the instrument of Technical Support and knowledgeable partners like the IEA will facilitate the achievement of that crucial goal.

Since Russia invaded Ukraine, the IEA and the European Commission have maintained closed communication surrounding energy security and the energy market unrest.

On March 21^st, the Commission called on the Member States to express their inclination toward receiving technical support.

Source credit:

https://ec.europa.eu/info/news/european-commission-and-international-energy-agency-common-bid-reduce-eu-reliance-russian-fossil-fuels-2022-may-24_en

Saloni Walimbe:

An avid reader since childhood, Saloni Walimbe is currently following her passion for content creation by penning down insightful articles relating to global industry trends, and business news for DEC Research and numerous other portals. With a degree in MBA-Marketing under her belt, she holds several years of content writing experience in the advertising field. Aside from her professional work, she is an ardent animal lover and enjoys movies, music, and books in her spare time.