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Europe Must Be Ready to Cut Gas Use by 30% in Winter, IEA Says

  • Countries need to prepare for a total halt in gas from Russia
  • Filling storage will be challenging without Russia gas flows
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G-7 Leaders to Explore a Price Cap on Russian Gas

Europe will need to cut as much as 30% of its gas consumption by mid-February if flows from Russia are halted.

Widespread curtailments would be necessary if Moscow decides to halt flows completely, according to Fatih Birol, executive director of the International Energy Agency. It’s a scenario that leaders should be preparing for, he said in response to emailed questions.