The European Union told member states on Wednesday to cut gas usage by 15% until March as an emergency step after President Vladimir Putin warned that Russian supplies sent via the biggest pipeline to Europe could be reduced further and might even stop.
Deliveries via Nord Stream 1 pipeline, which accounts for more than a third of Russian gas exports to the EU, are due to resume on Thursday after a 10-day halt for annual maintenance.
But supplies via that route had been reduced even before the maintenance outage in dispute over sanctioned parts, and may now be cut further, while flows via other routes, such as Ukraine, have also fallen since Russia invaded its neighbour in February.
The disruptions have hampered Europe’s efforts to refill gas storage before winter, raising the risk of rationing and another hit to fragile economic growth if Moscow further restricts flows in retaliation for Western sanctions over the war in Ukraine.
The European Commission proposed a voluntary target for all EU states to cut gas use by 15% from August to March, compared with their average consumption in the same period in 2016-2021.
“Russia is blackmailing us. Russia is using energy as a weapon. And therefore, in any event, whether it’s a partial, major cut-off of Russian gas or a total cut-off of Russian gas, Europe needs to be ready,” EU Commission President Ursula von der Leyen said.
The Commission proposal would enable Brussels to make the target mandatory in a supply emergency, if the EU declared a substantial risk of severe gas shortages. read more
The move, which needs the backing of EU states, will be discussed on Friday so ministers can approve it on July 26.
“We believe that a full disruption is likely,” one EU official said. “If we wait, it will be more expensive and it will mean us dancing to Russia’s tune.”
EU states are trying to ensure storage facilities are 80% full by Nov. 1, from about 65% now.
