Europe Agrees to Cut Gas Consumption as Russia Crimps Supplies – The Wall Street Journal

European countries Tuesday reached an agreement to curb their consumption of natural gas over the next eight months in an effort to shield their economies from a possible cutoff of Russian supplies.

The deal calls for countries to voluntarily reduce their gas use by 15% beginning next month, matching the level proposed by the European Union’s executive arm last week, and says the target could become mandatory in an emergency. But it contains significant carve-outs for countries with limited connections to other European gas networks and those whose electricity grids aren’t linked to the European system.

Original News Source Link

Leave a Comment