The European Commission proposes a ban on extending long-term contracts for natural gas supplies to EU countries after 2049 as part of the "green transition" strategy, reports Business Capital.
This is stated in a document that has become available to Bloomberg agency.
The document is expected to be published on Wednesday and will be discussed at an EU summit in Brussels on Dec. 16. In addition to banning long-term contracts, it contains proposals to improve EU energy security, including by increasing the filling capacity of gas storage facilities before the start of the heating season and the creation of strategic reserves by gas distribution system operators.
Such a ban contradicts Russia's position, which has long pointed to the benefits of long-term contracts as compared to buying gas on spot markets. The Russian Federation, which supplies a third of Europe's gas needs, urges European countries to conclude more such agreements.
Recall that in October-November the Russian Federation has reduced gas supplies to the European Union by 25% compared to last year. At the same time, the EU receives the blue fuel in full from Norway and Algeria.
