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Economy
Jul 21, 2022

EU to go ‘cut-off gas use’; Russia resumes supply 

Foreign Affairs News Correspondent
Nord

As the Russia-Ukraine War is still ongoing the world is facing fuel shortages and hike prices. 

So, thinking that in Winter Europe could be very cold and the lack of fuel ongoing as today Europe might see big humanitarian problems. 

Thus, the European Commission urged member states on Wednesday to downsize the use of gas by 15%at least from August 1 until March 31 next year.

It is the voluntary step to highly-anticipated Save Gas for a Safe Winter that could ensure a gas cut-off from Russia. 

“All member states will suffer” if the EU fails to act and see impact on the single market economy that might hit in employment,” said EU Commission chief Ursula von der Leyen and underlined further that “a 15%reduction in gas consumption equates to about 45 billion cubic metres (bcm) of gas.” 

However, whether to go on implementation or not about the gas use-cut off proposal will be discussed and finalized by EU ministers during their energy summit to be held on July 26. 

The EU and its Western nations have accused Russia of weaponizing gas supplies to Europe. 

Thus, the Commission could go on joint purchases of gas for all the member states from other suppliers including the US, Norway, Azerbaijan, Qatar and Israel.

Meanwhile, amid EU fears of could curb or halt supplies following a 10-day maintenance break Russia has resumed from today pumping gas to Europe through Nord Stream 1 pipeline but at a reduced level.

As per the report, Russia, amid concerns, would use its vast energy exports to push back against Western pressure over its invasion of Ukraine.

The 1,224 km long Nord Stream’s natural gas pipelines run in parallel through the Baltic Sea from Portovaya Bay, near Vyborg on the Russian coast, to Lubmin, a coastal resort in the Germany is the longest sub-sea pipeline in the world started in 1997.

They are the shortest connection between the vast Russian natural gas reserves and the energy markets of the European Union.

It includes the Nord Stream 1 pipeline running from Vyborg in northwestern Russia, near Finland, and the Nord Stream 2 pipeline running from Ust-Luga in northwestern Russia, near Estonia.

The name “Nord Stream” occasionally refers to a wider pipeline network, including the feeding onshore pipeline in Russia, and further connections in Western Europe.

As per the report, the first line of Nord Stream 1 was inaugurated on November 8, 2011 whereas the second line of Nord Stream 1 was inaugurated on October 8, 2012. The first line of Nord Stream 2 was completed in June 2021, and the second line was completed in September 2021.

In 2021, the Nord Stream Pipeline transported 59.2 bcm of Russian natural gas to European consumers. More than 465 bcm of natural gas have been delivered through Nord Stream since its launch in 2011.

It is said that Nord Stream 2 has double the capacity, the report said.