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EU Proposes To Extend 15% Cut In Gas Demand Through Next Winter

NATURAL GAS

The European Commission on Monday put forth an extension to the voluntary 15% cut in gas demand through next winter according to Bloomberg.

  • The measure still needs formal approval by the EU energy ministers, who are scheduled to meet next week but it has broad support among the member states.
  • The EU decreased gas demand by 19% in Aug-Jan compared to the five-year average, Eurostat data show.
  • The measure is voluntary, but it could be made mandatory under an emergency situation.

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