The G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States) and the European Union called on oil and gas producing countries to examine their capacity to increase deliveries to international markets, while stressing the key role of the Organization of the Petroleum Exporting Countries (OPEC), on Thursday 10 March, in a joint statement issued at the end of a virtual meeting of the energy ministers of these countries and the European Commissioner for Energy, Kadri Simson.
Highlighting the “significant risks” resulting from the war in Ukraine to the security of energy supply for G7 countries and beyond, the statement assures that G7 members will act “in solidarity and in close coordination in the event of any disruption of supply”.
The text mentions in this respect the “important role” that liquefied natural gas (LNG) could play as an alternative to pipeline gas supplies, “in particular to European markets”. It went on to acknowledge that “investments in this sector are necessary because of the current crisis”.
This crisis “highlights the real need and opportunity for Europe to reduce its dependence on Russia”, the document continues. According to the G7 members, the path to the EU’s energy independence lies in diversifying supply, accelerating the deployment of “clean energy technologies” and improving energy efficiency.
Expressing “deep concern” about the current surge in energy prices, which is “a burden [...] on households, particularly low-income households, as well as on business and industry, especially in European countries”, the G7 pledges to “do what is necessary to mitigate the impact on our countries, economies and citizens, including to protect vulnerable groups”.
Concerns about Ukraine’s nuclear facilities
The declaration also addresses the issue of maintaining the safety of nuclear facilities in Ukraine.
With Russian forces having taken control of the Zaporizhzhya plant and the Chernobyl site, G7 members call on Moscow to “cease all use of force against Ukrainian nuclear facilities or in their vicinity and to ensure that all nuclear facilities in Ukraine remain under the full control of the Ukrainian government”.
Ukraine informed the International Atomic Energy Agency (IAEA) on Thursday that all communications had been cut off with the Chernobyl nuclear power plant after the site was deprived of any external power supply, raising fears of nuclear safety risks. The IAEA then announced that it was aware of reports that electricity had now been restored to the site and was awaiting confirmation of this information.
See the statement: https://aeur.eu/f/q4 (Original version in French by Damien Genicot)