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    EU calls for end to unabated long-term gas contracts by 2049

Summary

The publishing of the proposals comes as Europe struggles with an energy crisis.

by: Joseph Murphy

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EU calls for end to unabated long-term gas contracts by 2049

The European Commission has called for no long-term contracts for "unabated" gas supply to extend beyond 2049 as part of a package of legislative proposals published on December 15 to decarbonise the EU energy market.

The publishing of the proposals comes as Europe struggles with an energy crisis, amid insufficient gas supply and soaring gas demand, as well as low levels of gas storage, prompting concerns of shortages this winter.

The commission said that while long-term contracts were "an important part of the gas supply of member states ... they should not constitute a barrier to the entry of renewable and low-carbon gases., which is why the duration of contracts for the supply of fossil gas will not be able to run beyond 2049."

 A summary of all the EU's legislative and regulatory proposals can be read here.