EU proposes 15% cut in gas use on Russian supply concern
BNN Bloomberg
The European Union proposed that the bloc cut its natural gas consumption by 15% over the next eight months in a plan that would affect all households, power producers and industry.
The goal is embedded in regulation accompanying demand-reduction guidelines for governments amid growing concern that Russia will cut gas exports to the region after being hit with sanctions following its invasion of Ukraine. The measure put forward by the European Commission includes a mandatory trigger if the situation worsens and voluntary curbs are insufficient.
“The European Union faces the risk of further gas-supply cuts from Russia due to the Kremlin’s weaponization of gas exports, with almost half of our member states already affected by reduced deliveries,” the commission said Wednesday in a statement. “Taking action now can reduce both the risk and the costs for Europe in case of further or full disruption.”
The EU’s biggest challenge this winter is to ensure sufficient gas supplies to fuel furnaces and power generators. Russian President Vladimir Putin has signaled that Europe will start getting gas again through the key Nord Stream pipeline, but warned that unless a spat over sanctioned parts is resolved, flows will be tightly curbed.
