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Revised EU Gas Aims for Approval Today


The EU aims to get a watered-down version of gas cut plans through for approval today that now contains numerous opt outs and concessions.

  • The initial plan last week was for every EU country to cut its gas use by 15% from August to March voluntarily, which would become mandatory in a supply emergency.
  • The initial draft was rejected publicly by a swathe of EU nations forcing it back to the drawing board for exemptions for various countries and industries.
  • Reports suggest the revisions now look set for approval but the more relaxed approach leaves the EU in a precarious situation to get it gas storage high enough for this winter given Russians latest move to limit Nord Stream 1 flows to 20% this week.

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