EU countries agreed on further reduction of gas consumption

 The countries of the European Union reached a political agreement to continue a coordinated policy of reducing gas demand, reducing consumption by at least 15% until March 2025. "Since 2022, we have come a long way, using coordinated measures in the EU and quickly reacting to the energy crisis. (...) The political agreement reached today demonstrates our commitment to remain prepared for any disruptions in supply and to guarantee a safe winter for our citizens and industry," said Minister of Energy of Belgium, which presides over the EU Council, Tinne Van der Straten .

According to the council, the decrease in gas demand in the EU in the period from August 2022 to January 2023 was ensured by 19%. This was 41.5 billion cubic meters.

This was announced by the EU Council on March 4, writes Interfax-Ukraine.

A communique issued in Brussels said: "While security of supply in the EU has improved, further reductions in demand are still necessary to ensure sufficient gas supplies for next winter."

According to Brussels, the situation with the supply of gas to the EU has improved significantly since 2022, in particular thanks to measures to reduce gas demand based on the relevant regulation, which was adopted as an emergency instrument of 2022. In March 2023, it was extended until the end of March 2024 to ensure continuity of supply and contain price volatility.

"However, despite the overall improvement in the supply situation, according to the commission's latest reports, the situation on global gas markets remains tense. Therefore, since the term of validity of the regulation on reducing demand will soon expire, the member states want to continue to be ready for any possible interruptions in the supply of gas," the EU Council explains.

For this, the document emphasizes, the EU's collective storage should remain at a fairly high level throughout the winter.

Thanks to the political agreement reached by the council on March 4, "member states are recommended to further reduce gas consumption until March 31, 2025, by at least 15% compared to the average gas consumption in the period from April 1, 2017 to March 31, 2022."

The reached political agreement must be officially approved by the Council of the EU. This is expected to happen later in March 2024.

Meanwhile, the European Commission has no intention of contacting the Russian Federation to continue the transit of Russian gas to European countries through Ukraine's GTS. The countries expect to take all necessary measures to completely get rid of Russian gas, said the European Commissioner for Energy, Kadri Simson.

At the same time, traders are optimistic about the continuation of the supply of Russian gas through Ukraine after the expiration of the current transit contract.

Bulgaria may become the main route of Russian gas imports to the European Union in 2025.