The European Union’s (EU) energy regulatory agency has recommended bloc members continue reducing natural gas consumption in the short-term and prioritize energy projects that cut future demand.

Since European natural gas prices rose to peak levels last summer, the region’s supply and demand balance has found an uneasy equilibrium thanks to demand reduction policies and an influx of mostly U.S. LNG.

In a recently published market report, the Agency for the Cooperation of Energy Regulators (ACER) offered several recommendations based on its review of extreme natural gas volatility following last year’s Russian invasion of Ukraine. Chief among them was for members “to maintain political commitments to reduce gas consumption.”

[What’s Coming? NGI’s North American LNG...