Gas Consumption in the EU
EU members have agreed to continue coordinated gas demand reduction
Leyla Cheamil, 05.03.2024, 13:50
The European Union will carry on measures aimed at supporting voluntary gas demand reduction after the bloc’s energy ministers reached an agreement on Monday. The period was extended until March 2025 and ministers convened in Brussels for an exchange of opinions on energy security and preparation measures for the winter 2024-2025. According to a communiqué by the Energy Ministry in Bucharest, the ministers have reached a political agreement on the Council’s recommendation for the continuation of gas demand reduction.
We recall that the EU countries in 2022 set a target of curbing gas consumption at least by 15%, as compared to the average of the past five years. That was one of the numerous measures endorsed after Russia had significantly dropped its gas deliveries to Europe causing serious supply problems and leading to record price hikes.
“We are speaking here about a recommendation not an obligation, in the same context of some European countries’ need to curb their dependency on Russian gas”, Romanian Energy Minister, Sebastian Burduja says. The Romanian official said he explained to the council of ministers that Romania does not anticipate the reduction of gas consumption, as it can cover it from its own resources. Romania will rely more on these resources after 2027, when the Neptun Deep production is estimated to begin. Neptun Deep exploitation will turn Romania into the main gas producer in the EU.
Worth noting is that Neptun Deep is the biggest natural gas project in Romania’s Black Sea area, with an output estimated at 100 billion cubic meters during its entire exploitation period. Sebastian Burduja said the authorities in Bucharest are anticipating a rise in the gas consumption, both through kickstarting the chemical fertilizers industry and the expansion of gas distribution networks. Representatives of the EU member states that convened in Brussels have mentioned the support for the continuation of the moves aimed at diversifying natural gas supplies. And these includes a reduced dependency on Russian gas in line with the REPowerEU objectives, transition to renewable energy, lower carbon emissions, capitalizing on indigenous gas resources, investment in gas and energy infrastructures, the implementation of innovative solutions such as batteries, storage, hydrogen etc. The talks agenda in Brussels also included an exchange of opinions with the EU’s solar panel industry with a view to raising its competitiveness at the global level.
(bill)
