G7 consults on alternatives to Russian gas

Deutsche Welle: 6. May 2014
G7 consults on alternatives to Russian gas

Energy ministers from G7 are trying to reduce Europe's dependence on Russian gas imports.

Energy ministers of the G7 group of the world's wealthiest industrial nations are meeting in Rome on Tuesday to discuss alternatives to Russian natural gas supplies. Europe buys about a third of its gas from Russia.

A special meeting of G7 energy ministers is under way in Rome. Ministers from Germany, USA, Canada, Italy, UK, France, and Japan are meeting to discuss how to reduce Europe's dependence on Russian gas imports.

Until recently, the G7 was the G8 - Russia was the eighth member. But Russia was suspended from the group in light of the geopolitical tussle over Ukraine. Now G7 nations are looking for ways to reduce Russia's economic leverage over Europe, which relies on Russia for about a third of its gas supplies.

Could American LNG replace Russian gas?

USA and Canada have offered to provide Europe with supplies of LNG, or liquefied natural gas, as an alternative. But LNG is more expensive than pipeline gas - and there are other difficulties with the LNG option as well.

Supplying Europe with significant volumes of LNG would require massive investments in LNG tanker ports and years of construction time. And it is unclear whether North American supplies of natural gas, even given the fracking boom, would suffice to replace Russian gas over the long term.

The German Economics and Energy Ministry has said that greater efforts to achieve energy efficiency, for example through better building insulation, should be a key part of Europe's energy security solution.

The UK energy secretary during the meeting said that process to reduce the biggest industrialized countries' dependence on Russian gas has begun to prevent Russian President Vladimir Putin using it as a weapon.

"We have taken a strategic decision and will face up to the use by Russia of energy as a weapon. Putin has crossed a line," British Energy Secretary Ed Davey said on the margins of the meeting in Rome.

"It will take some time to reduce our energy dependency on Russia but a significant process has been started... We must disarm the Russian energy weapon by reducing our dependency."

Davey said the group of energy ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States had agreed to respond with unity and resolve towards the dispute over Ukraine. Russia supplies around a third of Europe's gas, some 40 percent of which it ships through Ukraine.