The Swiss Federal Council on Wednesday approved a concept for the creation of a gas reserve for the coming winter in case gas supplies from Russia are interrupted
MOSCOW (Pakistan Point News / Sputnik - 18th May, 2022) The Swiss Federal Council on Wednesday approved a concept for the creation of a gas reserve for the coming winter in case gas supplies from Russia are interrupted.
"The concept of a gas reserve for the winter is intended to minimize the consequences of a possible disruption of Russian gas supplies. In addition to the regular purchases, which are made by Swiss suppliers every year and meet the needs of Swiss consumers, two additional measures are envisaged," the government said in a statement published on its website.
According to the statement, the first measure involves creating a gas reserve in neighboring countries to cover 15% of Switzerland's annual gas consumption. The second measure involves buying more gas of non-Russian origin from France, Germany, Italy and the Netherlands.
The government also noted that the situation on European energy markets had been characterized by uncertainty since the start of Russia's military operation in Ukraine.
Since late February, the cost of gas on the European market has been showing strong volatility against the backdrop of Russia's operation in Ukraine. In early March, fears of a possible Russian energy embargo in Europe drove gas prices beyond historical highs.
