Switzerland's government extended a regulation, requiring the gas industry to create gas reserves in case of shortages, for one more year through winter 2023-2024, the Swiss Federal Council said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 01st February, 2023) Switzerland's government extended a regulation, requiring the gas industry to create gas reserves in case of shortages, for one more year through winter 2023-2024, the Swiss Federal Council said on Wednesday.
"As regards a threatening shortage of gas, the Federal Council has obliged the gas industry to create a gas reserve for coming winter 2023/2024. On February 1, the Federal Council established a relevant basis for this. It amended the regulation on a gas reserve and extended it for one year," the statement said.
The government stated that Switzerland imported most of the gas it consumed, while having no reserves on its territory. The country uses storage facilities in neighboring states for its gas reserves that cover just about 15% of Swiss annual gas consumption, according to Switzerland's federal council.
At the same time, the Swiss government stated that the amended regulation would not completely resolve the issue of a possible supply shortage, so the risk of a severe energy crisis across Europe remained serious.
European countries have been facing a massive energy crisis and struggling to fill their gas reserves in the aftermath of imposing sanctions on Russia after it launched a military operation in Ukraine on February 24. The crisis has placed energy security high on both the global and national agendas, pushing many European governments to resort to contingency measures.
