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The parliamentarians debated the proposal presented days ago, and analyzed on May 11 in the European Commission, to establish minimum levels of gas reserves before November 1 of this year, and for subsequent years. The action is part of the European Union (EU) plan to reduce the import of gas and oil from Russia. On the other hand, the Kremlin is confident in maintaining the sale of hydrocarbons to Europe for a longer period.
Europe is advancing firmly in its intention to completely cease the purchase of Russian oil and gas in the coming years.
One day after the European Commission announced that it would mobilize 300,000 million euros by 2030, the European Parliament agreed to set minimum percentages in gas reserves, in order to guarantee supply to citizens for the next winter period.
The agreement, among other points, sets a mandatory minimum level of gas in storage facilities at 80% for the month of November 2022, although the projection must be aimed at reaching 85% of the reserve.
“The bill aims to recharge Europe’s strategic gas reserves faster, so that households and businesses have enough gas for the upcoming heating season,” the body’s statement read.
To mitigate the effects of the war in Ukraine, MEPs propose using the EU budget and seeking more funds, via, for example, the confiscation of assets from Russian oligarchs.
— European Parliament in Spain (@Europarl_ES) May 19, 2022
According to the EFE news agency, as of May 11, deposits were at 37.4% of their capacity. Likewise, the same agency indicates that the underground gas storage capacity is 1,100 megawatts per hour (TWh), which represents some 100 million cubic meters of gas distributed in 160 facilities, located in 18 EU countries.
“Since 2010, the Parliament has been advocating for the joint purchase of gas from the EU. The Parliament managed to include a provision on such a mechanism for the joint purchase of natural gas in the new legislation. I trust that the Member States, with the support of the European Commission, make the most of this opportunity to pool your purchasing power when buying gas on the world energy market,” said Member of Parliament Jerzy Buzek.
The agreement includes a mandatory section for all gas storage operators, in order to avoid risks arising from external influences on infrastructures that are critical to the bloc and could endanger supply.
Five Member States concentrate 73% of the bloc’s gas reserves.
Russia remains calm in the face of Europe’s moves
According to what has been pointed out by authorities of the European bloc, including Charles Michel, president of the European Council, Russia has used its influence as an exporter of oil and gas to receive resources that are used to finance the war.
The debate on how to reduce dependence on Russian gas has been among the main points of the bloc in recent weeks. The European Union represents one of the main markets for Russian oil and gas. According to official data in 2021, 40% of gas consumption in Europe corresponds to the Russian fluid.
During an educational conference, Russian Deputy Prime Minister Alexander Novak expressed confidence that Russian oil and gas will be sold to his main partner.
“The same oil that they bought from us, they will have to buy elsewhere, pay more for it, because prices will definitely go up,” Novak said.
With EFE and Reuters
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