Local weather graphic of the week: EU funds for Russian gas since warfare attain past €100bn

By admin On Oct 8, 2022

[ad_1]

EU international locations have imported greater than €100bn price of coal, oil and fuel from Russia for the reason that invasion of Ukraine in February, as a part of the bloc’s increased general consumption of fossil fuels to date in 2022, an impartial Helsinki-based analysis group has estimated.

Whereas Europe continued to pay as a lot to Russia for fuel because it did within the first half of 2021 as a result of skyrocketing costs, it obtained a fraction of the fuel, stated the Centre for Analysis on Power and Clear Air (Crea).

However the bloc’s estimated general 11 per cent drop in whole fuel consumption within the first half of the 12 months was counterbalanced by a rise in the usage of oil merchandise by 8 per cent, laborious coal by 7 per cent, and lignite by 12 per cent, primarily based on information from the Eurostat authorities company.

In consequence, EU carbon dioxide emissions had been prone to have elevated by about 2 per cent within the first half of the 12 months, Crea estimated.

Globally, there was an increase in coal and fuel technology in July and August as document drought and heatwaves pushed up electrical energy demand, the think-tank Ember reported lately.

“We will’t make certain if we’ve reached peak coal and fuel within the energy sector. International energy sector emissions are nonetheless pushing all-time highs after they must be falling in a short time. And the identical fossil fuels pushing us right into a local weather disaster are additionally inflicting the worldwide vitality disaster.” stated Małgorzata Wiatros-Motyka, Senior Electrical energy Analyst at Ember.

The EU stays the biggest importer of fossil fuels from Russia though general volumes have halved for the reason that begin of the invasion.

The €100bn milestone highlights how Moscow has continued to attract income from the identical nations searching for to isolate it. Whereas EU fuel imports decreased considerably, and coal imports have now ceased since sanctions got here into power in August, Crea estimates the EU nonetheless imports round €260mn price of Russian fossil fuels per day.

“Whereas capping costs and limiting imports from Russia, it’s important for European international locations to speed up the shift from fossil fuels to wash vitality. This 12 months has revealed the reliance on fossil fuels as a elementary nationwide safety and financial vulnerability,” stated Crea lead analyst Lauri Myllyvirta.

Indian and Chinese language oil shopping for has additionally offset many of the fall in Russian shipments to Europe, a current Monetary Occasions evaluation of accessible information exhibits, with the most important quantity development coming from India.

Local weather graphic of the week: EU funds for Russian gas since warfare attain past €100bn 1

Egypt, which depends on grain shipments from Russia and Ukraine, had additionally emerged as a major purchaser, Crea reported. This runs counter to its standing as host nation for the subsequent UN local weather change summit.

It was the subsequent greatest fossil gas importer for the reason that invasion behind the EU, China, Turkey, India, South Korea and Japan.

Egyptian imports of oil peaked in July, up from virtually zero earlier than the invasion, Crea stated. Just like India, Russian oil exported to Egypt was typically re-exported elsewhere, it added.

In mid-September, the European Fee revealed new steerage that the switch of sure items, together with coal, from Russia to 3rd international locations “must be allowed to fight meals and vitality insecurity all over the world.”

A ban on EU imports of Russian coal started on August 10, following a wind-down interval of 4 months. Nonetheless, Crea notes that EU member states didn’t implement a provision within the ban that prohibited EU-owned ships from transporting coal from Russia to 3rd international locations.

However Russia’s coal exports have regained about half of the lack of the EU market, with Turkey and India taking extra coal. India imported virtually no fossil gas from Russia earlier than the invasion.