PM Sanchez-Must Prepare For Worst-Case Scenario, But No Rationing

Wires carrying comments from Spanish Prime Minister Pedro Sanchez regarding the country's energy outlook.

• Says that, 'We must plan for a total shutdown of Russian gas supply in the worst-case scenario'.
• Adds that Spain will, 'not have gas rationing or power blackouts'.
• Spain (and Portugal) are seen as potential tests of EU unity over actions intended to mitigate the impact of gas supply shortages that could emerge over the winter. The Iberian peninsula is largely isolated from the main EU gas grid, operating its own system. Spain also has significant LNG import and storage capacity, further limiting the impact of cutbacks in Russian supply on its energy mix.
• EU energy ministers meeting on Friday 9 Sep in an effort to reach an agreement on coordinated efforts to reduce demand and lessen the impact of any shortages. Spain and Portugal (as well as other EU states not connected to the network such as Ireland and Cyprus) likely to gain some form of dispensation to avoid the worst cutbacks.