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EU Urges Action on Natural Gas Demand as Price Crisis Looms

According to Reuters, on September 25th local time, EU Energy Commissioner Joensson sent a letter to the energy ministers of EU countries, stating that the EU is facing an energy price crisis and calling on countries to consider taking measures to reduce natural gas demand.

“We are facing a price crisis intertwined with supply chain crises.”

Yorgensen said that thanks to increased imports of liquefied natural gas, more renewable energy sources, and a decline in natural gas demand, the EU is now better prepared than it was during the winter of 2021 when Russia cut off its natural gas supplies. However, he still urges the governments of EU countries to strengthen their preparations for this winter.

He said that countries should consider taking or maintaining relevant measures to maintain natural gas reserves or reduce the demand for natural gas and electricity.

He mentioned that such measures include restricting the temperature of public buildings, banning outdoor heating, and turning off unnecessary public lighting.

According to reports, Europe relies heavily on oil and gas imports. Overseas suppliers meet about 80% of Europe’s natural gas needs, which makes it highly susceptible to the impact of soaring global energy prices.

Europe is currently not facing a shortage in supply, but it is struggling with rising prices. Some European countries will have difficulty filling their natural gas reserves before the peak winter heating demand arrives.