How Europe can Cut Natural Gas Imports from Russia significantly within a Year

  1. Do not sign any new gas supply contracts with Russia. [Impact: Enables greater diversification of supply this year and beyond]
  2. Replace Russian supplies with gas from alternative sources [Impact: Increases non-Russian gas supply by around 30 billion cubic metres within a year]
  3. Introduce minimum gas storage obligations [Impact: Enhances resilience of the gas system by next winter]
  4. Accelerate the deployment of new wind and solar projects [Impact: Reduces gas use by 6 billion cubic metres within a year]
  5. Maximise power generation from bioenergy and nuclear [Impact: Reduces gas use by 13 billion cubic metres within a year]
  6. Enact short-term tax measures on windfall profits to shelter vulnerable electricity consumers from high prices [Impact: Cuts energy bills even when gas prices remain high]
  7. Speed up the replacement of gas boilers with heat pumps [Impact: Reduces gas use by an additional 2 billion cubic metres within a year]
  8. Accelerate energy efficiency improvements in buildings and industry [Impact: Reduces gas use by close to 2 billion cubic metres within a year]
  9. Encourage a temporary thermostat reduction of 1 °C by consumers [Impact: Reduces gas use by some 10 billion cubic metres within a year]
  10. Step up efforts to diversify and decarbonise sources of power system flexibility [Impact: Loosens the strong links between gas supply and Europe’s electricity security]

Watch the launch press conference with Minister Barbara Pompili of France, EU Commissioner for Energy Kadri Simson, & IEA’s Executive Director Fatih Birol

Source: Press Release: IEA

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