Reuters: EU prepares powers to deal with Russian winter gas cut

The European Union is preparing to take action to secure gas supplies this winter if its biggest supplier, Russia, cuts exports due to the crisis in Ukraine, a draft document seen by Reuters showed.

The measures could include making use of existing powers to ban companies from selling liquefied natural gas (LNG) tanker cargoes outside Europe, keep more gas in reserve, and order industry to stop using gas.

The draft document, which confirms information from a European Commission source, said the EU could take emergency action to ensure that more coordinated use is made of facilities for converting LNG back into natural gas and of gas storage capacity.

This could be done "when the normal functioning of the market does not lead to the optimal use of those facilities," the document said.
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