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EU launches platform for joint gas and hydrogen procurement — EC

Europe Materials 8 April 2022 17:48 (UTC +04:00)
EU launches platform for joint gas and hydrogen procurement — EC

The European Commission (EC) announced that it has launched the platform for joint procurement of gas and hydrogen by EU members, EC said on Friday, Trend reports with reference to TASS.

"In order to secure the EU's energy supply at affordable prices in the current geopolitical context and to phase out dependency on Russian gas, the European Commission has established with the Member States an EU Platform for the common purchase of gas, LNG and hydrogen," EC said.

The platform "will be a voluntary coordination mechanism, bringing together the Commission and the Member States, supporting the purchase of gas and hydrogen for the Union, by making optimal use of the collective political and market weight of the EU," the European Commission noted.

"The Commission will operate the Platform covering all aspects of the value chain, global supply and demand, market mechanisms, infrastructure and security of supply," EC added.

Russian gas import covers up to 40% of gas consumption in the EU. The European Commission set the task to EU members to reduce import from Russia by two thirds by the end of 2022.

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