The European Commission (EC) on Wednesday released a plan to cut natural gas consumption by 15% until next spring, a day after Russia suggested it would resume natural gas deliveries on Nord Stream 1 (NS1) at a reduced rate.

The continent has been girding for the possibility that flows might not resume on the major conduit after annual maintenance ends. Russian President Vladimir Putin told reporters during a visit to Iran on Tuesday that if Gazprom PJSC does not receive a turbine that has been stuck in Canada, then NS1 would likely resume flows at just 20% of capacity. He again cited technical problems feeding the system at a massive compressor station. 

The European Union’s executive branch unveiled its gas reduction guidelines for all consumers, noting that nearly half of...