Bloomberg: EU plans to voluntarily reduce gas consumption by 15% due to problems with supplies from Russia

The European Union plans to ask member states to cut gas use by 15% from next month amid concerns that Russia may cut off supplies. This will be one of the steps of the EUʼs general plan to reduce the consequences of a possible gas supply cutoff by Russia.

Bloomberg writes about this with reference to sources.

The plan was called "Save gas for a safe winter." The European Commission plans to recommend steps that include cuts in heating and air conditioning services, as well as certain market-based measures. The plan will be announced on Wednesday.

According to the European Commission, in the event of a gas cut, Europe may lose up to 1.5% of GDP in winter. The EUʼs biggest challenge this winter is ensuring a sufficient supply of gas for fuel-burning stoves and power generators.

At the same time, a large group of countries opposes mandatory cuts. They stress that national governments already have contingency plans and will reduce demand regardless of whether the EU obliges them to do so.

• Since June 16, “Gazprom” has reduced supplies of the Nord Stream gas pipeline to 40% of the nominal capacity, explaining this by the fact that Canada, due to sanctions, did not return the turbine needed for the gas pipeline. On July 17, she was handed over to Germany for return to Russia. From July 11 to 21, gas supplies through this pipeline were completely stopped.
• It is possible that Russia may resort to blackmail in order to obtain the lifting of sanctions and not restore gas supplies. Nord Stream 1 is the main route for the supply of Russian gas to Europe after the start of the war in Ukraine.