Commodities Buzz: EU To Reduce Gas Use By 15%

27 Jul 2022 , 01:03 PM

The EU has taken a decisive step to face down the threat of a full gas disruption by Russias invasion of Ukraine. The political agreement reached by Council in record time, based on the Commissions proposal ?Save gas for a safe winter? tabled last week, will ensure an orderly and coordinated reduction of gas consumption across the EU to prepare for the coming winter. It complements all the other actions taken to date in the context of REPowerEU, notably to diversify sources of gas supply, speed up the development of renewables and become more energy efficient. The collective commitment to reduce by 15% is very significant and will help fill storage ahead of winter, noted the update. Powered by Commodity Insights