Brussels is preparing to tell EU members to cut gas consumption”Immediately”, warning that without increased conservation the continent risks running short of fuel this winter as Russia restricts supplies.
The European Commission will next week provide members with voluntary gas reduction targets, according to a draft paper seen by the Financial Times, which cautions that targets will be made mandatory in the event of severe disruption to supplies.
“Acting jointly now will be less disruptive and costly, facilitating solidarity and avoiding the need for unplanned and uncoordinated actions later in a possible crisis situation with gas reserves running low,” the document said.
The move comes as the International Energy Agency warned that efforts to diversify away from Russian gas were no longer enough on their own and that Europe faced energy rationing unless demand was restricted to allow storage facilities to be filled ahead of winter.
Russia has over the past month slashed capacity on the main pipeline to
Germany and the IEA fear that further cuts cannot be ruled out. Fatih Birol,
IEA executive director said Europe was facing a “red alert” and that
“significant additional reductions” were needed to “prepare Europe for a tough winter ahead”.
Ursula von der Leyen, European Commission president, signed a supply deal with Azerbaijan on Monday that will increase deliveries to Europe by 48 percent this year and aims to double them by 2025, although Azeri imports make up only a sliver of the EU’s total.
The country in the Caucasus is one of several, including Qatar, the US, Israel and Nigeria, being courted by the EU as it tries to secure alternatives to Russian supplies.