At their summit this Friday, the EU heads of state and government will reaffirm their goal of ending dependence on Russian gas, oil and coal “as quickly as possible”.

EU Commission President Ursula von der Leyen has set 2027 as the target for this.

Dependence on Russian gas should fall by two thirds by the end of the year.

So far, the EU has received 150 billion cubic meters of natural gas from Russia, which currently covers 40 percent of its needs, so it would have to replace no less than 100 billion cubic meters - a mammoth task.

Henrik Kafsack

Business correspondent in Brussels.

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American liquefied natural gas (LNG) is expected to make a major contribution to this.

The USA wants to deliver another 15 billion cubic meters this year.

Above all, however, the volume is expected to increase to 50 billion cubic meters per year in the coming years, thereby replacing a third of Russian gas.

Renewables, energy efficiency and hydrogen

EU Commission President Ursula von der Leyen and US President Joe Biden presented a corresponding agreement on Friday morning in Brussels.

"We don't have to ensure the supply for next winter, but also for the coming years," said von der Leyen.

In addition to faster implementation of the Green Deal, the USA could make a major contribution to this.

Biden emphasized that the cooperation had two goals: firstly, it should help Europe to free itself from dependence on Russia, and secondly, it was about reducing energy consumption overall through coordinated investments in renewables, energy efficiency and hydrogen.

The agreement was preceded by weeks of negotiations with the close involvement of American companies that are potential LNG suppliers.

According to the Commission, the 15 billion cubic meters that are to flow this year in addition to the LNG that has already been delivered is the best that the USA can provide in the short term and the EU can absorb.

With that, the EU could at least replace the Russian liquefied gas that the EU is currently purchasing.

From the outset, however, it was about a long-term cooperation.

With the promise to buy 50 billion cubic meters of LNG annually by 2030, the EU is giving the Americans planning security for the necessary investments in the expansion of production and infrastructure, it said.

It is important that the infrastructure, which must also be further expanded in the EU, is also geared towards the delivery of green hydrogen from the outset.

The supply of American LNG comes at a high price.

The EU not only has to invest in the expansion of its LNG ports and the conversion stations for liquid gas, but also in the pipeline connections within the EU.

For example, there is free capacity on the Iberian Peninsula to take in LNG, but there are no pipeline connections to transport the gas to the rest of the EU.

The price of American LNG is also likely to be high.

The agreement does not provide specific information on this.

However, it states: "The pricing formula is intended to reflect the long-term nature and stability of the cooperation of supply and demand."

Even if private companies end up buying the gas, the deal means the EU is making long-term commitments at a certain price, an EU official said.

That is the price the EU has to pay for independence from Russian gas.