The EC has calculated the level of GDP during the suspension of determining the amount of gas in Russia.
With a cold winter and the absence of preventive austerity measures to stop mass gas consumption, to reduce the EU GDP by 1.5%, according to EC experts
EU GDP could shrink by 1.5% if Russia suspends gas supplies. Such a scenario is highly likely in cold winters and lack of preventive energy conservation measures. Analysts of the commission of the commission come to this conclusion, Interfax.
If the temperature of the coming winter is moderate, then due to the presence of gas in the country, the level of GDP will be 0.6-1%, according to Bloomberg, the reasons that were in the zone of influence in the agency’s draft version of the EC report, which will be released on Wednesday.
The European Commission feels that strong mitigation action in mild weather during winter can contain the negative impact of lower gas levels by 0.4% of GDP.
The EC estimates the estimated level of gas reserves in European storage at 63%, which is in line with the multi-year average and corresponds to about 46 days of winter consumption. If gas supplies via the Nord Stream gas pipeline are not resumed in the near future, gas storage facilities will be 65-71% full by early November, the European Commission predicts, with a target of 80%.