EU reaches an agreement

EU reaches an agreement

"This was not an impossible mission! Ministers have reached a political agreement on reducing the gas demand ahead of the upcoming winter," the Czech representative office of the EU Council tweeted.

"In an effort to increase the security of energy supply in the EU, Member States today reached a political agreement to voluntarily reduce natural gas demand by 15 percent this winter. The Council Regulation also foresees the possibility of triggering a 'Union alert' on the security of supply, in which case the reduction would become mandatory," the Council's announcement states.

The council added that EU countries agreed to reduce gas demand between August 1 and March 31 "with measures of their own choice".

"While all EU countries will make their best efforts to meet the agreement, the Council has listed some exceptions and possibilities for deviations from the mandatory reduction target, in order to reflect the particular situations of the member states and ensure effectiveness in the gas reductions," the statement said.

EU countries that are not interconnected to the gas networks of other member states will be "exempted from mandatory gas reductions because they would not be able to release significant amounts of gas from the gas pipeline for the benefit of other member states."

The EU Council also pointed out that the European Commission is obliged to consider the possibility of extending the agreement until May 2023.

This decision came after German news agency DPA, citing unnamed sources, said EU member states had agreed on an emergency plan to voluntarily cut gas consumption as a way to reduce dependence on Russia and to prepare for a scenario in which imports stop, Sputnik International reported.

Sources claimed that the so-called "Save Gas for a Safe Winter" plan envisages a voluntary reduction in natural gas consumption by 15 percent between August 2022 and March 2023.

"The adoption of the gas reduction proposal in record time has undoubtedly strengthened our common energy security. Current gas savings will improve preparedness. Winter will be much cheaper and easier for EU citizens and industry," said Czech Minister of Industry and Trade J. Sikela, Teletrader reported.

According to the plan, the initial target of 15% will start from August 1, 2022, to March 31, 2023, which will save up to 45 billion cubic meters of gas. Initially, the decision is voluntary, but if the target is not met, it may become mandatory.