EU Eyes Gas Demand Cuts to Confront Russian Supply Halt Risk

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The European Union is seeking ways to reduce natural-gas demand to avoid splintering energy markets as dwindling supplies from Russia test the bloc’s unity in response to the war in Ukraine, Bloomberg News reported. An increase in gas supply disruptions following the EU’s sanctions on Russia is prompting member countries to step up winter preparations as they seek to refill depleted storage sites At a meeting of ministers on Monday in Luxembourg, EU energy commissioner Kadri Simson urged more energy savings and efficiency to reduce the threat of gas rationing. German Economy Minister Robert Habeck warned of a possible gas shortage in the country and appealed to European solidarity. “We are working hard to avoid or minimize the potential curtailment, and the preparedness package that is planned for July will propose measures to reduce demand preventively,” Simson told reporters after the ministerial meeting. The biggest challenge for the EU is to ensure sufficient reserves to get through peak heating and power demand in the winter. They also act as a buffer that allows gas to move across borders within the EU to ensure all member nations have enough supply. Countries can help each other out if the crisis escalates. Read more.