In the Netherlands, the government announced on Monday that despite Moscow cutting gas supplies to Europe, it still plans to shut down the largest Dutch natural gas field in 2023 or 2024, according to AP NEWS..

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In recent years, the Dutch government has been phasing out the use of coal for electricity generation, requiring coal-fired power plants to operate at no more than 35% capacity.. The country's strategic goal is to switch to renewable energy to reduce greenhouse gas emissions. However, Dutch coal-fired power plants will now be operating at full capacity again..

Meanwhile, German Economy Minister Robert Habeck said that Germany would try to compensate for the sharp reduction in gas supplies via Nord Stream 1 by allowing coal to be burned more.. However, the German government says it remains committed to its goal of phasing out coal as an energy source by 2030..

Recall that Israel, Egypt and the European Union signed a historic gas agreement on the transportation of Middle Eastern gas to Europe.. Russia is being forced out of the European gas market.