Aidan Lewis

CAIRO, Reuters – As it looks for alternatives to Russian oil and gas imports, the European Union could set higher targets to transition to renewable energy. This was according to Frans Timmermans (EU climate policy chief), on Sunday.

All 27 EU members have pledged to reduce their collective greenhouse gas emissions by at least 55% by 2030 from 1990 levels. This will help them move towards net zero emissions by 2050.

The European Commission proposed to Europe that it cut its imports by 2/3 this year. It is also preparing plans for phasing them out by 2027, following Russia’s February invasion of Ukraine.

In May, the Commission will propose “Repower EU”, a plan to help Russia quit fossil fuels.

We will work toward what I refer to as the Repower EU initiative and, in that context, we hope to speed up the energy transition. Timmermans said that in this context, we may revisit our targets.” During a Cairo visit, Timmermans spoke to reporters.

Timmermans explained that this revision would lead to a “higher percent of renewable energy in 2030”, but declined any figures regarding possible new targets.

According to existing plans, by 2030 the EU will increase renewable energy’s share to 40% of the final consumption.

Timmermans stated that Egypt will be hosting the COP27 climate conference in November. The country re-exports Israeli natural gas from its Mediterranean coast terminals. This could allow the EU to diversify its gas imports.

He said, “If there is any other LNG available in the area – we will check which quantities will be available from Israel”

“The essence of what we offer is a strategic long-term relationship that begins and moves quickly into LNG, then eventually to renewables, including hydrogen,” he said.