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April 25, 2022

Netherlands looking to end dependence on Russian oil and gas by year-end

The country plans to spend approximately $675m on incentives to help fill the Bergermeer gas storage facility.

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The Netherlands is planning to end its dependence on oil and gas from Russia by the end of this year, in response to the country’s invasion of Ukraine.

The Dutch Government is focusing on increasing imports from other countries, as well as energy conservation and sustainability to replace the share of Russian gas.

As part of the plan, the government intends to spend approximately $675m on incentives for energy firms to fill the Bergermeer gas storage facility, which has a capacity of 4.1 billion cubic metres (bcm) of gas.

In case the companies do not respond to the government’s financial incentives, state-owned company Energie Beheer Nederland (EBN) has been appointed to ensure that at least 70% of the Bergermeer facility is filled.

In a press statement, the Government of the Netherlands said: “In the coming weeks, the government will make efforts to make agreements with other countries to become independent from Russian oil as soon as possible while maintaining sufficient security of supply.

“In addition, the cabinet is also taking measures to guarantee that the gas storage facilities are filled before the coming winter.”

The government expects to import an extra eight billion cubic metres of liquefied gas before the end of the year, following the expansion of the LNG terminal in Rotterdam, and the construction of a floating LNG terminal in Eemshaven.

“This does depend on the availability of sufficient liquid gas on the world market. Because the gas market is international, European agreements are needed to ultimately ban Russian gas altogether.”

Through sustainable measures, gas consumption in the Netherlands is estimated to be reduced by nearly nine billion cubic metres by 2025. This exceeds the imports from Russia, which currently stand at approximately six billion cubic metres.

The country also aims to stop coal imports from Russia from 11 August 2022 at the latest.

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