The EU is about to Abandon Gas Contracts with Russia
It is noted that by its decision the European Union, in particular, seeks to limit the extension of long-term contracts for gas imports by EU members and to strengthen control over the level of fuel in their storage facilities. The publication explains that Russia is striving to conclude the aforementioned agreements, and such news is "negative" for the country.
According to the draft document, which is planned to be officially published on December 15, the European Union will take measures to establish a high filling level of gas storage facilities at the start of the heating season. This decision is largely motivated by the very low level of this indicator over the past ten years - the occupancy rate was only 72%. This circumstance was noted as one of the key reasons for the recent rise in gas prices in Europe.
Also, the EU intends to oblige the EU countries to assess risks and make specific decisions if foreign companies own gas storage facilities. In particular, states will have to set their occupancy levels.
The article emphasizes that a number of subsidiaries of the Russian Gazprom control several storage facilities in Germany, Austria and the Netherlands. Their occupancy at the beginning of autumn amounted to 12.8% of the design capacity.
In addition, operators of gas transmission systems will have to engage in joint procurement of strategic fuel reserves on a voluntary basis.
It is emphasized that the decision of the European Union on such changes was additionally motivated by the desire to implement a "green" energy transition by 2050 and stop greenhouse gas emissions.
Earlier it became known that on December 14, the price of gas futures for January in the course of trading exceeded $ 1400 per thousand cubic meters for the first time since October 6.