EU Warns of Tough Winter as Oil and Gas Prices Surge
The European Union is preparing for a challenging winter as oil and gas prices are expected to remain very high amid the ongoing US-Iran war, according to EU Energy Commissioner Dan Jorgensen.
Speaking to reporters following a meeting of EU energy ministers in Dublin on Tuesday, Jorgensen said the bloc was heading into a difficult period for energy markets but did not forecast problems with security of supply.
“There’s no doubt that we are approaching a winter that’s going to be challenging,” Jorgensen said, pointing to the pressure created by elevated energy prices.
In response to the market situation, Jorgensen proposed delaying the introduction of new EU rules aimed at reducing methane emissions by one year. He said the move would help “relax” pressure on energy markets during a period of heightened uncertainty.
The proposal comes as European countries prepare for the colder months while monitoring the impact of higher global energy costs. Although concerns remain over prices, the EU energy commissioner indicated that supply availability itself was not currently expected to become a major issue.
EU energy ministers discussed the situation as the bloc continues to assess measures aimed at maintaining energy market stability through the winter.
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