European
Union countries approved a weakened emergency plan to curb their gas demand on
Tuesday, after striking compromise deals to limit the cuts for some countries,
as they brace for further Russian reductions in supply.
Europe faces an increased gas squeeze from Wednesday, when Russian's Gazprom
(GAZP.MM) has said it would cut flows through the Nord Stream 1 pipeline to
Germany to a fifth of capacity.
With a dozen EU countries already facing reduced Russian supplies, Brussels is
urging member states to save gas and store it for winter for fear Russia will
completely cut off flows in retaliation for Western sanctions over its war with
Ukraine.
Energy ministers approved a proposal for all EU countries to voluntarily cut
gas use by 15% from August to March.
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Source:
Reuters