By Kate Abnett

BRUSSELS, (Reuters) – Leaders of the EU countries will tell a summit next week that they should start filling up their gas tanks immediately to be ready for next winter. This is in order to provide a buffer from supply shocks.

Russia’s invading of Ukraine inspired leaders from 27 EU member states to commit last week that they would phase out Russian fossil fuels. They will do this by increasing their imports of LNG and speeding the deployment of renewable energy.

However, a complete phase-out could take many years. Therefore, countries have also begun to plan measures to minimize disruptions in supply from Russia. Russia supplies 40% of EU’s natural gas and 27% of its oil imports.

“Refilling gas storage in the Union must begin now. Reuters has seen a draft document containing the conclusions of the EU Leaders Summit on March 24-25. It states that the Commission and Member States will coordinate urgent measures to ensure sufficient gas storage levels before next winter.

Next month the European Commission plans to propose regulations that will require EU members to work together in order for gas storages to be at least 90% full by October 1 each year. According to the draft statement of EU leaders, they said that they would take forward this proposal.

Currently, EU gas reserves are 26% full.

High energy prices are driving up the bills of citizens throughout Europe. EU leaders will discuss how to protect consumers and businesses.

After the Russian invasion of Ukraine, gas prices in Europe rose to new record levels. This was despite it being a “special military operations”. This price rise came after months of high energy prices that EU countries have been trying to reduce with tax cuts and emergency subsidies.

In May, the Commission will release a detailed plan for EU countries to reduce their dependence on Russian oil, gas and coal. Last week’s initial plan included an increase in LNG imports, and tripling the EU’s solar and wind energy capacities by 2030.

However, while the EU nations have unified behind Russian fossil fuels abandonment, there is a split in their minds about whether or not to sanction Russian oil & gas. They were banned by the United States last week as they have less dependence on Russian fuels.

Germany and Hungary join the EU nations that oppose sanctions. They claim it would lead to economic harm. Poland and Latvia support the war by claiming that Russia is paying hundreds of millions to Europe each day to supply energy.