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Uncertainty Permeates the EU’s Joint Buying Plans

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The European Commission announced plans earlier this year to study the creation of a joint purchasing mechanism seeking to buy gas, LNG and hydrogen as it rushes to procure alternative supplies to replace Russian piped gas. How such a mechanism will work is yet to be made public, with market players and diplomatic sources still unclear on how this new system will fit in the EU’s current energy markets. The commission is expected to submit a new market design at an upcoming European Council meeting in October, with the mechanism likely to be a central component.

Topics:
Gas Supply, LNG Supply, LNG Projects, Gas Demand, Policy and Regulation, Ukraine Crisis
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