European governments outlined new measures to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running at severely reduced rates
Pipes at the landfall facilities of the Nord Stream 1 gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal HanschkeThe German economy is contracting already and will likely get worse over the winter months as gas consumption is cut or rationed, the country's central bank said on Monday.
"Portugal has been preparing, like all of Europe, for what will be a difficult winter," he said, urging the European Commission to move forward with plans for a joint EU gas purchasing platform and defining import prices.Russia, which had supplied about 40% of the European Union's gas before its February invasion of Ukraine, has said it closed Nord Stream 1 because Western sanctions hindered operations.
German buyers briefly reserved capacity on Monday to receive Russian gas via the Nord Stream 1 pipeline, once one of Europe's major gas supply routes, for the first time since the line was shut three weeks ago. But they soon dropped the requests. It was not immediately clear why buyers had submitted requests for capacity when Russia has given no indication since it shut the line that it would restart any time soon.
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