European Commission to propose that EU firms disclose details of Russian gas contracts

Brussels/Luxembourg, 13 June (CTK correspondent) - Companies from EU member states will have to disclose details of their agreements concerning imports of Russian gas into the EU. This is according to European Commission documents seen by Reuters. The move is linked to a plan to end all imports of Russian fossil fuels into the bloc, which the European Commission presented in early May.

Energy Commissioner Dan Jörgensen announced at the time that the plan includes nine specific measures for the coordinated and gradual phase-out of Russian energy supplies. These include a proposal by the European Union to ban the signing of new contracts with Russian gas suppliers, with existing spot contracts to be terminated by the end of the year. According to the Commission, these measures will ensure that the remaining supplies of Russian gas to the EU are reduced by one third by the end of this year. The EU executive will also propose ending all remaining imports of Russian gas by the end of 2027.

The Commission plans to publish specific legislative proposals concerning oil, gas and nuclear energy in June. This is expected to happen on Tuesday, 17 June.

An internal analysis of the European Commission’s draft proposals, seen by Reuters, says the proposals will require companies to disclose information including the duration, annual contracted volumes and termination date of their Russian gas contracts.

The EU executive has previously said it will work with individual member states to ensure that the phase-out of Russian energy imports across the EU is gradual and well coordinated. Member states will be asked to prepare national plans by the end of this year setting out how they will contribute to the gradual phase-out of imports of Russian gas, nuclear energy and oil. According to the European Commission, these plans will make it possible to take into account the national circumstances and diversification needs of each member state. The phase-out of Russian gas imports has been strongly criticised, particularly by Hungary and Slovakia.