Page 14 - EurOil Week 03 2023

EurOil POLICY EurOil

A regulation on co-ordinated demand reduc- States announced a Joint Task Force in March
tion measures for gas: This targets a 15% volun- 2022 to strengthen European energy security.
tary reduction in EU gas demand between 1 Among other such initiatives, the European
August 2022 and 31 March 2023, compared with Commission signed a memorandum of under-
its five-year average. The European Commission standing (MoU) in June 2022 on a Strategic Part-
has adopted the European Gas Demand Reduc- nership in the Field of Energy with Azerbaijan.
tion Plan with best practices and guidance for The EU Energy Platform is intended to aid with
member states to help them reduce gas demand. a coordinated approach.
EU Action Plan to digitalise the energy sys- New floating storage regasification units
tem: the European Commission presented an (FSRUs) and the expansion of existing regasifi-
Action Plan in October 2022 on the digitalisa- cation terminals will allow the European Union
tion of the energy sector, to improve the efficient to have 25% more regasification capacity in 2023
use of energy resources, facilitate the integration than in 2021
of renewables into the grid, and save costs for EU Several interconnectors were commissioned
consumers and energy companies. ahead of the 2022-23 heating season that facili-
Energy diplomacy: the European Union tated internal gas flows and diversification of gas
intensified its international outreach to supply, including between Central and Eastern
strengthen energy partnerships with key natural European countries that have historically had a
gas and LNG suppliers. The EU and the United higher reliance on Russian pipeline gas. ™

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