EU member states reach agreement on emergency gas plan

Published date26 July 2022
Publication titleLETA

BRUSSELS, July 26 (LETA--) - EU member states have agreed an emergency gas plan that aims to soften the impact of a potential total stoppage in Russian gas supplies, has learned.

The plan provides for a voluntary 15 percent reduction in member states' natural gas consumption between August 1, 2022 and March 31, 2023, diplomats told early on Tuesday morning.

In addition, a mechanism will be created to trigger a bloc-wide alert in the event of widespread gas shortages and to implement binding savings targets.

The agreement sees the stringent terms of the commission's first draft considerably watered down, with various get-out clauses introduced and the threshold for the introduction of binding savings targets also being raised.

Under the terms of the amended agreement, binding savings targets can now only be enforced by the European Council rather than by the EU Commission.

The approval process for the revised plan is due to begin later on Tuesday at a special meeting of EU energy ministers. Diplomats say the qualified majority required should be easily achieved.

Exceptions agreed would mean that countries including Cyprus, Malta and Ireland would not have to save gas as their gas...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT