EU Set to Explore Joint Gas Purchases in Energy Crisis Toolbox

Oct. 8, 2021, 10:16 AM

The European Union’s executive will explore the possibility of national governments jointly purchasing and storing natural gas to boost the region’s energy resilience and avoid future price shocks.

The European Commission is set to examine options for strengthening the region’s leverage in talks with third-country suppliers as part of a plan to avoid the energy crunch undermining an economic recovery. The plan will also offer guidance on how to design tax cuts, direct support for the most vulnerable and state aid for companies, according to a person familiar with the draft EU proposals.

About 20 countries have taken action already ...

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