Ireland has option of exemption from 15% EU gas cuts

Prices for gas to be delivered from this summer right through the winter months rose by as much as 12%, according to futures markets. 

Meanwhile, prices of European wholesale gas rose a second day after flows of Russian gas through Nord Stream 1 were reduced. File photo: Stefan Sauer/dpa

The EU's agreement to cut its use of gas by 15% through the winter won’t apply to all member states equally, with several securing exemptions to help forge a unified front.

The deal comes as Russia again cuts the flow of gas to Europe on the key Nord Stream 1 pipeline, complicating efforts to store enough fuel to get through winter.