Oil Daily | EU Accelerates Russian LNG Ban Proposal Amid U.S. Pressure for Energy Independence

【Oil-Producing Countries Dynamics】

Indonesia has decided to allow private fuel retailers, including BP and Shell units, to import fuel through state-controlled Pertamina. This move comes after private retailers experienced fuel shortages due to import restrictions. The anti-trust body launched an investigation into unfair business practices, prompting the government to collaborate with Pertamina for additional imports.

【Latest Oil Policies】

Sweden is seeking parliamentary approval for state loans to build nuclear reactors, aiming for two new reactors by 2035 and a total of ten by 2045. This shift in energy policy supports small modular reactors to reduce emissions. The Swedish government previously reversed a phase-out of nuclear energy.

The European Commission plans to propose a ban on Russian LNG imports by January 1, 2027, earlier than initially intended. This decision follows U.S. pressure to reduce reliance on Russian energy. The EU is looking to accelerate the phase-out of Russian fossil fuels, aligning with its broader energy independence goals.

【Industry News】

Iraq's attempt to import gas from Turkmenistan through Iran was halted due to lack of U.S. approval. The proposed swap deal would have allowed Iran to retain a portion of the gas. Without U.S. backing, Iraq fears sanctions and is now exploring alternatives, including floating regasification terminals for LNG imports.