UK threatens to stop providing gas to EU | MENAFN.COM

Sunday, 14 August 2022 04:16 GMT

UK threatens to stop providing gas to EU


(MENAFN) The Financial Times reported on Wednesday that Britain has threatened to halt its gas flow to the continent if there is a serious shortfall, adding to the uncertainty surrounding the European Union's gas supply.

In accordance with the newspaper, one of the first actions under an emergency plan that may be activated if the gas supply issue worsens in the upcoming months is going to be to shut down interconnector pipes connecting the United Kingdom with the Netherlands and Belgium. The FT notes that further actions would include stopping delivery to significant industrial locations and encouraging homeowners to consume less.

The European Union is presently experiencing an energy shortage as a result of its associates' penalties against Russia, the union's primary energy supplier. After Russia limited supply, Germany and the Netherlands activated emergency plans earlier the current month, restarting coal reactors and urging corporations to reduce gas usage.

Less than 5 percent of the natural gas used in the United Kingdom comes from Russia, with the majority originating from the North Sea and Norway. Nevertheless, changes in the world markets have an impact on gas costs in the United Kingdom.

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