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Great Reset: EU Reduces Gas Consumption by 20.1% From Five-Year Average

Posted by EU Times on Dec 21st, 2022 // No Comment

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As part of its strategy to reduce its reliance on Russian energy, the European Union lowered its natural gas consumption by 20.1% from August to November compared to the same months in 2017–2021, the European Statistical Office (Eurostat) said on Tuesday.

In comparison to the average gas consumption for the same months (August to November) between 2017 and 2021, the EU’s natural gas consumption fell by 20.1% in the period from August to November 2022, according to Eurostat.

The majority of EU member states have seen a decline in gas consumption, with 18 of them reporting a fall that exceeded the 15% target. Finland has had the highest fall, at 52.7%, followed by Latvia at 43.2% and Lithuania at 41.6%.

The 15% objective has yet to be met by six member states, while two more nations, Malta and Slovakia, have even increased their gas use by 7.1% and 2.6%, respectively.

The Council of the European Union passed a law in August requiring voluntary reductions in natural gas demand of 15% between August 1, 2022, and March 31, 2023, as compared to average consumption over the previous five years. The goal of the move is to conserve money for the coming winter and to be ready in case Russian gas supplies are interrupted.

After Russia began a special military operation in Ukraine on February 24, the EU enacted a broad campaign of sanctions against Moscow and vowed to no longer rely on Russian energy imports. Nine different sets of penalties against Moscow have already been adopted by the alliance. Sanctions include a price restriction on Russian refined goods beginning on February 5, 2023, in addition to the cap on the price of Russian crude oil that took effect on December 5.

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Read More Stories About: Energy, EU, European Union, Eurostat, Gas, Great Reset, Moscow, Russia, Sanctions

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