EU will ration gas for Russian supply worries

The European Union announced Tuesday that it will reduce its gas consumption by 15 percent between August and March to store enough for winter in case Russia cuts off its supply. In 2021, the EU got about 40 percent of its natural gas from Russia, according to the International Energy Agency. The EU member countries plan to voluntarily share and ration gas, but if their goals are not met, the member states will discuss mandatory regulations.

Has Russia threatened to stop exporting gas? On Monday, Gazprom, Russia’s largest natural gas company, said it would limit its supply to the EU to 20 percent capacity through the Nord Stream 1 pipeline. The company already shut off the gas supply through the pipeline for repairs earlier this month, and Russia stopped or reduced gas deliveries to 12 EU countries, citing supply chain problems, sanctions, or repairs. The 27-nation bloc agreed earlier to embargo oil and coal from Russia later this year, but EU leaders said the countries need to be prepared for a full shut-off.

Dig deeper: Read Carolina Lumetta’s report in The Stew on President Joe Biden and gas prices in America.