EU Targets End of Russian Gas Imports by 2027

The European Commission plans to mandate EU companies to disclose details of Russian gas transactions. Legal proposals aim to end EU's Russian gas reliance by 2027, banning new deals by year-end. Disclosure requirements will ensure compliance, with LNG service bans starting from 2026.

The European Union is gearing up for a significant policy shift concerning its energy imports, particularly targeting Russian gas. According to an internal document seen by Reuters, the European Commission aims to enact measures that will completely halt the EU's Russian gas imports by the end of 2027.

The upcoming policies will require EU companies to provide detailed disclosures about their Russian gas contracts. This will include information about contract duration, volumes, and origin, among other details. These disclosures are critical to ensure EU countries' compliance with the anticipated ban.

Another focus of the proposal is European LNG terminals, which will be restricted from servicing Russian customers starting January 2026. The ban on services under long-term contracts will extend till the end of 2027. These actions symbolize a strategic move by the EU to diversify its energy sources away from Russian gas.

(With inputs from agencies.)