Agreement by EU Member States on the natural gas contingency plan

The member states of the European Union have reached an agreement on the emergency plan regarding the consumption of natural gas, which was drawn up with the aim of softening the impact of the potential complete interruption of the supply of 27 from Russia, the German Agency is informed.

The plan envisages a voluntary 15% reduction in gas consumption by EU member states in the period from August 1, 2022 to March 31, 2023, diplomats told the German news agency early this morning.

In addition, it foresees the creation of a mechanism that will sound the alarm throughout the European Union in the event of widespread gas shortages and the implementation of binding savings targets.

Achieving agreement required softening several of the stricter terms of the original plan and introducing several opt-out clauses, while the ceiling on binding savings limits was raised.

Source: Capital

You may also like