Europe will unveil natural gas demand-reduction targets
#ItsHappening 🇪🇺
✂️ EU will propose a voluntary 15% cut in gas use by members from Aug. on fears Russia may halt supply
🔪 The measure also would include a mandatory trigger if the situation worsens
bloomberg.com/news/articles/…
#ItsHappening 🇪🇺
✂️ EU will propose a voluntary 15% cut in gas use by members from Aug. on fears Russia may halt supply
🔪 The measure also would include a mandatory trigger if the situation worsens
bloomberg.com/news/articles/…
A year on into the energy crisis, policy makers have only tried supply measures in their attempt to address the problem, noted @JavierBlas
Now the EU is finally moving to cut fuel demand
"The best energy is that which we don’t consume," said Blas
bloomberg.com/opinion/articl…
Now the EU is finally moving to cut fuel demand
"The best energy is that which we don’t consume," said Blas
bloomberg.com/opinion/articl…
Putin signaled that Russian natural gas flows via Nord Stream would restart this week, but with conditions 🧐
If a pipeline part that was caught up in sanctions isn’t returned by next week, then the pipeline will only work at 20% capacity, he said
bloomberg.com/news/articles/…
If a pipeline part that was caught up in sanctions isn’t returned by next week, then the pipeline will only work at 20% capacity, he said
bloomberg.com/news/articles/…
The EU officially releases their plan: "Save Gas for a Safe Winter"
➡️Reduce gas use in Europe by 15% until next spring
➡️Members States should update national emergency plans to show how they will meet the reduction target
ec.europa.eu/commission/pre…
➡️Reduce gas use in Europe by 15% until next spring
➡️Members States should update national emergency plans to show how they will meet the reduction target
ec.europa.eu/commission/pre…
How will Europe cut gas consumption?
➡️Member States should exhaust all fuel substitution possibilities
➡️ Priority should be given to switching to renewables or less carbon-intensive or polluting options. However, switching to coal, oil or nuclear may be necessary
➡️Member States should exhaust all fuel substitution possibilities
➡️ Priority should be given to switching to renewables or less carbon-intensive or polluting options. However, switching to coal, oil or nuclear may be necessary
Meanwhile, the EU says a key pipeline turbine is in transit and should be delivered to Russia on time ✈️
Russia has said it can't fully revive Nord Stream flows without the crucial turbines (which were stuck in Canada after maintenance due to sanctions)
bloomberg.com/news/articles/…
Russia has said it can't fully revive Nord Stream flows without the crucial turbines (which were stuck in Canada after maintenance due to sanctions)
bloomberg.com/news/articles/…
UPDATE: Early grid data showed the first orders via the Nord Stream natural gas pipeline for Thursday -- an indication of buyers’ expectations, though far from a guarantee flows will resume 👀
If flows restart, they will still just be ~40% total capacity
bloomberg.com/news/articles/…
If flows restart, they will still just be ~40% total capacity
bloomberg.com/news/articles/…
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