Currently, about two-thirds of Russian liquefied natural gas (LNG) and pipeline gas imports are based on long-term contracts, while the remainder is traded on a short-term spot market.

The European Union has announced plans to completely halt gas imports from Russia by the end of 2027, aiming to reduce dependence on Russian energy and limit financial support for the Kremlin amid the ongoing conflict in Ukraine.

The German Energy and Water Industry Association has praised the Commission's plans for diversifying gas supplies to mitigate risks associated with reliance on individual suppliers.

Legislative proposals to support this significant transformation of Europe's energy landscape are expected to be introduced next month.

In response to the EU's strategy, Kremlin spokesman Dmitry Peskov criticized the plans, calling them counterproductive and urging for more rational decision-making.

This announcement was made during a debate in the European Parliament, where officials emphasized the political will required to achieve these energy goals.

The implementation of this plan will be gradual and coordinated, with assurances of support for countries that may be most affected by the changes.

The EU aims to secure additional LNG supplies from countries like the USA, Canada, Qatar, and African nations, while also increasing gas production from Romania by 2027.

Despite some opposition from Hungary and Slovakia, EU diplomats are optimistic that the proposals will be approved quickly, potentially within weeks.

Legal disputes over gas supplies have escalated since the onset of the Ukraine conflict, with claims totaling approximately 18.5 billion euros involving major companies.

Legal options are being explored to allow European companies to invoke 'force majeure' to exit gas contracts with Russia, although experts express skepticism about the feasibility of this approach.

Member states that heavily rely on Russian oil, particularly Slovakia and Hungary, are required to develop national plans for phasing out imports.