EU to Significantly Reduce Russian Gas Imports

Two-Thirds Reduction by Year-End

Dramatic Fall in European Gas Prices

The European Commission is set to announce a significant reduction in Russian gas imports, aiming to cut them by two-thirds by the end of the year. This decision follows a recent sharp decline in European gas prices, despite continued arrivals of liquefied natural gas (LNG) tankers.

Germany has already大幅に削減vastly reduced its reliance on Russian gas, consuming significantly less compared to six months ago. The newly implemented Energy Storage Act, passed in March 2022, outlines measures to increase storage capacity and diversify energy sources.