Companies under EU jurisdiction required to disclose comprehensive details of all gas contracts with Russia
The EU Commission Wants to Expose Gas Deals with Russia
In an attempt to decrease the EU's reliance on Russian energy sources, the European Commission plans to compel companies to disclose the specifics of their gas supply contracts with Russia. Here's a breakdown of this strategy and its timeline:
🔑 Disclosure Details- Companies must supply information about contract duration, annual volumes, locations, and other pertinent terms.- Such transparency will strengthen the implementation of the planned ban on Russian gas imports.
⏱ Import Ban Milestones- The Commission aims to prohibit new Russian gas contracts by the end of 2025 and cease all Russian gas imports by December 31, 2027.- Existing long-term contracts will keep operating until the end of 2027, while short-term contracts are bounded until June 17, 2026.- From January 1, 2026, EU LNG terminals will no longer cater to Russian customers.
⏰ Key Dates- The Commission's detailed proposals are scheduled to be published on June 17, 2025.- Companies must abide by the disclosure requirements once the proposals have been finalized and put into practice, expected before the end of 2025.- Import Ban Deadlines: - December 31, 2025: No new Russian gas deals allowed. - January 1, 2026: EU LNG terminals discontinue services for Russian customers. - June 17, 2026: Existing short-term contracts for Russian gas can continue until this date. - December 31, 2027: The final cut-off for all remaining Russian gas imports under long-term contracts.
This initiative is part of the EU's broader attempts to reduce its dependence on Russian energy, following the invasion of Ukraine, and align with the REPowerEU Plan, which focuses on enhancing energy security and reducing reliance on Russian energy imports. 🌐
EnBW
[1]: European Commission document accessed by Reuters[2]: The Associated Press[3]: The Guardian
Tradegate ·
[5]: The Wall Street Journal
This policy-and-legislation move by the European Commission, aimed at decreasing the EU's dependence on Russian energy, includes politics surrounding general-news topics like energy security and Russian gas imports. The detailed proposals for disclosing information about gas supply contracts with Russia, including contract duration, annual volumes, locations, and other pertinent terms, are scheduled to be published on June 17, 2025.
