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EU Ministers To Agree On 15% Gas Cut Goal Until March 2024 On Tuesday

NATURAL GAS

EU energy ministers are set to agree the extension of a goal to cut EU natural gas demand by 15% until March 2024 when they meet on Tuesday, the Swedish EU presidency said.

  • Last Monday, the European Commission proposed extending the goal, which is due to expire at the end of this month.
  • Both the original goal and its extension are time-limited emergency measures that can be approved directly by the energy ministers acting in the EU Council without needing approval from the European Parliament.
  • “I foresee a majority in favour of the EC’s text as it now stands,” said a senior EU official.
  • The EU cut its gas demand by 38bcm, or 19%, between August and January after EU energy ministers adopted the current goal in July.
Energy BulletsCommodities
Energy BulletsCommodities

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