The European Union has agreed to ration its natural gas this winter to prevent a severe supply shock. But the bloc has watered down its ambitions by offering countries some significant leeway.

On Tuesday, EU energy ministers agreed to a voluntary target to reduce gas usage by 15% between August and March 2023. That reduction is measured against each country's average gas consumption during the same months over the previous five years.

The EU Commission first unveiled the 15% target in its "Save Gas for a Safe Winter" plan last week, which included a proposal for a new law that, if passed, would give it the power to force states to meet mandatory reduction targets in exceptional circumstances.

The European Union has agreed to ration its natural gas this winter to prevent a severe supply shock. But the bloc has watered down its ambitions by offering countries some significant leeway.

On Tuesday, EU energy ministers agreed to a voluntary target to reduce gas usage by 15% between August and March 2023. That reduction is measured against each country's average gas consumption during the same months over the previous five years.

The EU Commission first unveiled the 15% target in its "Save Gas for a Safe Winter" plan last week, which included a proposal for a new law that, if passed, would give it the power to force states to meet mandatory reduction targets in exceptional circumstances.