European Commission intends to ban long-term gas supplies contracts

The European Commission (EC) is proposing to prohibit the extension of long-term contracts for the supply of gas to EU countries after 2049.

Report informs, citing Bloomberg that the EC has prepared a special document in this regard.

The European Commission expects that the measures it has developed will help European countries "respond more effectively" to gas crises.

Among other proposals of the commission are to change the approach to gas storage, including to take measures to ensure a high level of filling of gas storages by the beginning of the heating season; allow transport system operators to conduct voluntary joint purchases of strategic gas reserves (accumulated reserves can be released in case of an emergency); EU countries are to analyze the level of occupancy of their storage facilities, as well as to take into account all potential risks associated with the security of supplies, including from foreign companies, etc.

It is expected that the leaders of the EU countries to discuss the prepared measures at the summit in Brussels, slated for December 16.