EU, The West Expects Moscow Gas Cut Off This Winter
Assuming that Russian leader Vladimir Putin will cut off vast natural gas supplies to the European Union, the EU, Japan and South Korea are set to propose energy cuts and savings Wednesday that might make for a much colder winter, but one without massive disruptions.
Experts were still plotting how to spread the pain of cuts equally among member states under the plan. Up to the last hours, EU officials were putting final touches on how the proposals would look, including how far guidance would go and where mandatory rules would have to kick in.
Early leaks said the plan for call for EU nations to limit gas consumption by as much as 15%, but changes could still come at the last moment.
The aim is to ensure essential industries and services like hospitals could keep functioning, while others would have to cut back. That could include lowering heat in public buildings and enticing families to use less energy at home.
EU nations and the Commission have gone on a buying spree to diversify its natural gas sources away from Russia, but they are still expected to fall far short of providing businesses and homes with enough energy in the cold months.
Just Monday, the leaders of Italy, France and the 27-nation EU sealed energy deals with their counterparts in Algeria, Azerbaijan and the United Arab Emirates.
While Japan, and South Korea turned for help to Australia. Several Australian mining firms promised to boost supplies that are needed for both economies. Both Tokyo and Japan simultaneously accelerated its plan of re-starting the nuclear power plants. Additionally, South Korea considers to re-launch coal-powered energy plants as a part of its strategic energy security plan.