EU plans to propose that member nations commit to a voluntary reduction in natural gas consumption of 15% starting next month, writes Bloomberg.

Wednesday, the EU is expected to present plans for how the 27 member nations could reduce gas consumption to ride out the storm if Russia chooses to shut off the flow of gas.

Such a proposal from the European Commission will have to be approved by the nations, however.

According to Bloomberg, the plans also include a mandatory gas reduction in the event that the situation deteriorates and voluntary reductions prove insufficient.

A large group of member nations oppose these plans, according to various media. They argue that contingency plans are already in place for reducing gas imports regardless of whether the EU forces them to do so or not.

Reuters has obtained a draft of the plan, which does not include specific figures for the gas reductions.

Meanwhile, Bloomberg also cites estimates showing that upwards of 1.5% of the EU’s combined gross domestic product is at risk in the event of a harsh winter resulting in high demand for gas for heating.

The maintenance work on gas pipeline Nord Stream 1, carried out annually, is set to conclude Thursday, after which the state-owned Russian gas company Gazprom will reportedly resume gas supplies for European consumers.

This year, however, there is palpable uncertainty as to whether gas deliveries will resume, with some fearing that Russia has no intention to restart the pipeline. If so, it would cause huge problems for Europe.

The uncertainty is triggered by the invasion of Ukraine, as a result of which the EU has imposed extensive sanctions against Russia.

Russia prepares to resume gas supply via Nord Steam 1

Media: Gazprom unable to meet gas targets to Germany