After President Vladimir Putin warned the bloc that Russian supplies transported through the largest pipeline to Europe, Nord Stream 1, were in danger of being further reduced, the EU will announce emergency plans to reduce gas use on Wednesday.
Deliveries through the pipeline, which carry more than a third of Russia’s gas exports to the EU, were suspended for ten days so that yearly maintenance could be performed; they are expected to start up again on Thursday.
However, due to a dispute over sanctioned components, supplies via the route had already been restricted before the maintenance interruption and may now face further reductions, while supply via other routes, including Ukraine, have also decreased since Russia invaded its neighbour in February.
The delays have made it more difficult for Europe to top off its gas reserves before winter, increasing the possibility of rationing and a further blow to the already ailing economy should Moscow tighten its supply in retaliation for Western sanctions related to the crisis in Ukraine.
The European Commission’s plan will compel nations to reduce their gas consumption. A draught that Reuters was able to get suggested a voluntary objective for nations to reduce their gas consumption over the following eight months, which could be rendered legally enforceable in an emergency.
The target reduction would be between 10% and 15%, according to EU sources, and any plan would require consent from all 27 nations of the bloc. But according to EU officials, it is imperative to take action right away rather than waiting to see what happens to flows through Nord Stream 1 or other channels.
Post Your Comments