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EPRS - REPowerEU: Ensuring Europe's energy security?

Description

The European Union pays billions of Euros a year for its dependence on Russian fossil fuels. Following Russia’s invasion of Ukraine, the EU’s initial reaction to reducing its dependence on Russian gas was to buy more elsewhere. Either from neighbouring countries like Norway or Algeria, or in the form of LNG gas which arrives by ship from Quatar or the United States. But this cannot compensate for all the gas the EU still gets from Russia. This is where the European Commission’s REPowerEU plan comes in. The plan aims to phase out Russian fossil fuels and speed up the EU’s green energy transition by boosting investment in renewable energy sources.

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