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Poland is ready for the EU embargo on Russia’s oil, gas and coal

Wednesday, March 23rd, 2022

The Polish Economic Institute (PIE) has calculated why Poland does not have to worry about problems due to a possible EU embargo on gas, oil and coal from Russia. The European Union is considering following in the footsteps of the US, Canada and Great Britain in response to Russia’s attack on Ukraine.

– The European Union is 25 percent dependent on oil, solid fuels and gas from Russia. It is possible to withdraw from importing fossil fuels from this country, but the energy solidarity of EU countries will be of key importance in this process, says the Polish Economic Institute in its latest report.

– The gradual abandonment of supplies of Russian raw materials can be achieved by: diversifying the directions of supplies, expanding the infrastructure within the EU, creating strategic stocks, increasing domestic production of raw materials, reducing demand and replacing Russian raw materials with other energy carriers. These activities will ensure energy security for EU countries, we read in the document. – In addition to diversifying the supply of raw materials, the EU may reduce energy demand through changes in consumer behavior. The simplest steps are to reduce the room temperature by 1 degree during the heating season and to reduce air conditioning use by 2 degrees during the summer. It is also important to implement programs for the exchange of heat sources and thermo-modernization of buildings. In transport, in turn, it is worth promoting public transport and changing the driving style of drivers to more efficient in terms of fuel consumption.

Poland is interested in importing coal from Australia

The Australian company Whitehaven Coal confirms the information that it receives inquiries from Poland related to new coal supplies. The company is also an exporter of coal to Ukraine.

Whitehaven Coal explains that Asia is the main export market. The company notes, however, that it has the ability to sell forward and spot contracts.

The share of Australian coal is growing every year. In 2020, slightly over a million tons were imported to Poland, and in 2021 this number doubled (two million tons). In connection with the war in Ukraine, coal suppliers received many inquiries related to the possibilities of increasing supplies to Ukrainian and other European companies, which relied heavily on raw material exported from Russia.

The company states in a statement that the government in Canberra has undertaken cooperation with entities and the governments of Ukraine and Poland in order to increase coal imports in the near future.

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