Sunday, August 14, 2022

EU member states agree 15% gas supply cut

Island states such as Malta, Cyprus and Ireland were exempted since they were not interconnected to the EU’s gas network.

• July 27, 2022
European Union

European Union (EU) member states have reached a political agreement on a 15 per cent voluntary reduction of natural gas demand from the average of 2017-2021, officials announced on Wednesday. 

Jozef Sikela, Czech Minister of Industry and Trade, presided over an exceptional EU Council meeting on energy on Tuesday, with the EU preparing for possible gas supply disruptions over the winter. 

“Member states agreed to reduce their gas demand by 15 per cent compared to their average consumption in the past five years, between August 1 and March 31, 2023, with measures of their own choice,” the European Council said in a statement. 

“Possible measures include reducing gas consumed in the electricity sector, measures to encourage fuel switch in industry, national awareness-raising campaign. 

“The targeted obligations to reduce heating and cooling and market-based measures such as auctioning between companies.”

There were several exemptions to the 15 per cent target. 

Island states such as Malta, Cyprus and Ireland were exempted since they were not interconnected to the EU’s gas network. 

Other derogation include member states that have already exceeded their gas storage filling target and those whose industries are heavily dependent on gas as feedstock and those whose gas consumption has increased by at least eight per cent in the past year compared to the average of the past five years.

A “Union Alert” could be activated, either by the European Commission if it perceives a “substantial risk of a severe gas shortage or an exceptionally high gas demand.”

“If five or more member states that have declared an alert at the national level request the Commission to do so.”

(Xinhua/NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

President Muhammadu Buhari, Goodluck Jonathan, Peter Obi, Umaru Yar'Adua and Olusegun Obasanjo

Economy

Buhari, Jonathan, Yar’Adua, Obasanjo wasted $500 million, impoverished Nigerians: Peter Obi

“If Nigeria had spent five per cent of the money borrowed so far on entrepreneurs and power generation, the country would compete with advanced countries,” reasoned Mr Obi.

Former Nigerian President, Goodluck Jonathan

Heading 1

Nigerian political leaders practise ‘bread and butter’ politics: Jonathan

“We must shift away from the politics of bread and butter and ensure that we do not elect leaders that will buy our conscience today and mortgage the future of our children.”

Vice President Yemi Osinbajo

Opinion

The secret diary of Vice President Yemi Osinbajo

If Buhari had supported me, I would have been the presidential candidate of the APC.

Bayelsa State governor, Douye Diri

Faith

Gov. Diri warns cultural terrorism threatening Ijaws’ language, identity

“We are suffering from what is called environmental terrorism, mainly caused by the oil companies. But there is another terrorism that is threatening us is cultural terrorism.”

NCDC DG, Ifedayo Adetifa and NCDC

Health

NCDC inaugurates biological lab to fight emerging diseases

“It will inform public health decision-making and facilitate the development of diagnostics, therapeutics, and vaccines,” said the NCDC director-general.

OPC and Fulani herdsmen

Heading 2

Cow caused OPC, Fulani herdsmen clash in Kwara, four dead: Police

A cow led by a Fulani herder broke the side mirror of OPC’s vehicle, and violence ensued, said the police.