Skip to content

EU Gas Plan Faces Increasing Opposition, Risking Energy Shortage

  • Spain and Greece may send a letter to the EU ahead of meeting
  • The EU estimates that a Russian cutoff could hit GDP by 1.5%
A natural gas field near Bovanenkovskoye on the Yamal Peninsula in Russia.

A natural gas field near Bovanenkovskoye on the Yamal Peninsula in Russia.

Source: Bloomberg

Opposition is growing to a European Union plan to cut natural gas consumption, raising questions about how prepared the bloc will be for winter if Russia further halts energy supplies. 

Spain and Greece may send a letter to the European Commission, the EU’s executive arm, ahead of an emergency meeting of energy ministers to protest the proposal, according to people familiar with the matter. Italy, Poland and Hungary have also raised objections to the plan, which would require approval from member states.