The European Union was dependent on Russia for 40% of its gas needs before the war – 55% for Germany.
A traffic light signal is red in front of German energy supplier RWE’s Weizweiler Brown Coal Power Plant in Weisweiler, near Aachen, Germany. (Photo: Reuters)
Some leaders of the Group of Seven (G7) prosperous democracies are pushing for acceptance of a need for new financing for fossil energy investment, two sources told Reuters on Sunday, as European states scramble to diversify supplies. We do.
Delegations at the annual G7 summit are debating whether such an approval can be made in line with the commitment of some countries made at the COP26 UN conference to halt funding for international fossil fuel projects by the end of 2022. could.
“(It) is possible that there will be wording in the declaration that investment for fossil energy should be possible for a certain period of time,” an EU diplomat said on the first day of the annual G7 summit, which is taking place in Germany this year. Is. ,
Italian Prime Minister Mario Draghi, whose country is also dependent on Russian supplies, said publicly on Sunday that there is a short-term need for investment in gas infrastructure “in developing countries and elsewhere”.
At a news conference on the G7 investment campaign in developing countries, Draghi said it should be possible to convert such infrastructure to use hydrogen in the future.
European countries are facing shortages in energy imported from Russia as the Ukrainian conflict escalates, and there are growing concerns over the impact on industry, especially from countries dependent on Moscow.
The European Union was dependent on Russia for 40% of its gas needs before the war – 55% for Germany.
One of the sources said German Chancellor Olaf Scholz – the G7 chair – put the issue of new infrastructure on the leaders’ agenda and discussions are underway to include it in the final statement of the meeting.
A German government spokesman declined to comment on the latest developments.
“It’s about the question: how do we get past climate change even though gas is a bridging form of energy and how can we ensure that it is not used as an excuse to soften climate targets? Is?” A German government official said on Saturday.