EU Passes Nat Gas Security Measures

Source:

"Member states get two years to design gas-supply crisis prevention plans."

European member states are called on to design preventative plans to ensure future natural gas supplies, the European Parliament announced.

European lawmakers passed a measure that gives member states two years to design plans to prevent a gas-supply crisis.

"The new rules on the security of gas supply are intended to reduce vulnerability to future disruptions and boost infrastructure development at national and EU level," the European Parliament said in a statement.

Alejo Vidal-Quadras, a Spanish lawmaker responsible for pushing the legislation through parliament, described the measure as a "milestone" piece of legislation.

"If applied speedily and effectively it will be a powerful message to our gas suppliers that Europe stands all for one and one for all in the crises," he said.

Russia sends 80% of its gas to Europe through Ukraine. Russian gas monopoly Gazprom last year cut gas supplies to Ukraine due to pricing and contract disputes, leaving European consumers in the cold for weeks.

European gas companies under the plan are required to make sure households have seven days of gas supplies during extremely cold weather and 30 days of gas during peak demand and average winter conditions.

European Energy Commissioner Gunther Oettinger set aside $1.8 billion to support the measure.

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