9Mar The European Commission will propose extending emergency gas demand reduction measures until next year to ensure it is well prepared for the coming winter, energy chief Kadri Simson said
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The market will closely watch the rate of replenishing storage sites over the summer, especially without the usual Russian volumes. Moscow sharply lowered shipments through pipelines following the war in Ukraine, and much of Europe is looking to move away from those supplies. However, Russian LNG imports into Europe have increased.
Simson called for a stop to these shipments as well, without announcing any specific measures. European companies should not renew long-term contracts with Russia once current ones end, she said. The EU received around 20 billion cubic meters of LNG from the country last year.
“We can and should get rid of Russian LNG completely, as soon as possible, still keeping in mind our security of supply,” Simson said. “Committing not to renew existing contracts with Russia is the best way to give a long-term assurance to our reliable partners that meaningful demand will stay.”