EU Tells Capitals to Cut Gas Demand Amid Rising Supply Concerns
- Europe warned member states today of an energy crisis, urging governments to consider curbing demand as continental LNG reserves sit about 20 percentage points below normal levels ahead of winter.
- Middle East disruptions have forced Saudi Arabia to pause crude and fuel shipments to Europe, with three key facilities—Yanbu, Samref, and Yasref—operating below capacity on the Red Sea, now a 'tinderbox' following militia attacks.
- Fuel prices have jumped to above $6 per gallon in the United States and over €2 per liter in Europe, signaling a "major" potential supply problem if supply chains are not restored by Christmas.
- Unlike 2022 and 2023, when Russia's invasion spiked prices rapidly, Europe is "facing a slow-motion crisis," says Ana Maria Jaller-Makarewicz, an analyst at IEEFA, as structural market tightness persists.
- Thierry Bros, a professor at Sciences Po Paris, says Europe's only exit is to "diversify and to destroy demand," while political uncertainty ahead of November elections could further constrain fuel availability.
102 Articles
102 Articles
The Euro-Commission on Energy and Housing, Dan Jørgensen, called on EU countries to reduce their consumption of gas and electricity due to energy supply disruptions, reports to the Policy on Sunday. "In the context of limiting global supply and high price volatility, declining consumption can be an effective tool to contain prices", a letter sent by Jorgensen to EU ministers on 25 September, which was reviewed by the publication.
The European Commission has called on EU countries to reduce the demand for gas and electricity due to high prices and limited world supply. Europe's gas storage facilities are currently filled by 68 per cent.
The European Commission has decided to send a second letter to the 27 governments advising them to take steps to reduce as much as possible the demand for gas, in the face of the price and supply crisis that has caused mainly the war between US President Donald Trump and the dictatorship of Iran.European legislation requires Member States to maintain minimum levels of gas stored in underground infrastructure equivalent to 35% of the average annu…
Energy Commissioner Dan Jorgensen is calling on leaders of the bloc's countries to introduce new measures due to limited supply.
EU floats energy demand curbs in price crisis letter
The EU warned its member states about a potential energy price crisis driven by the Middle East conflict, asking them to consider measures to cut demand and to continue filling gas storage ahead of winter.In a letter to energy ministers in the 27-nation bloc, EU Energy Commissioner Dan Jorgensen sai
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