EU gas storages 95% full ahead of November 1, surpassing 90% target in Gas Storage Regulation
Ahead of the November 1 deadline agreed to by European Union countries to fill their gas storages to 90 per cent of capacity, the current gas storage level EU-wide is more than 95 per cent, the European Commission (EC) said on October 31.
During the energy crisis, EU member states agreed to a legally binding target to fill their gas storages to 90 per cent of capacity by November 1 each year, to ensure sufficient security of supply and market stability for the winter months.
Citing Gas Infrastructure Europ, the EC said that there is currently about 100bcm of gas in storage in the EU, which represents around one third of the EU’s annual gas consumption.
European Commissioner for Energy, Kadri Simson, said: ‘When Russia invaded Ukraine and tried to blackmail Europe with its energy supplies, we took rapid action to protect ourselves against future supply shocks.
“This work is paying off, and we enter this winter with a healthy level of gas in storage across Europe, diversified energy supplies, a higher share of renewable energies, and a renewed commitment to energy efficiency and energy savings,” Simson said.
“This puts us in a strong position to keep supplies and prices stable this winter, and to continue our transition away from Russian fossil fuel imports.”
The Gas Storage Regulation (EU/2022/1032) of June 2022 set a binding EU target of 90% filling of storage facilities by November 1 each year, with interim targets for EU countries to ensure steady filling throughout the year.
This regulation was one of a wide range of measures taken by the EU following the energy crisis triggered by Russia’s invasion of Ukraine to better prepare Europe’s energy system for the winter season, the EC said.
Over the past two years, with the REPowerEU plan in place, the EU has drastically reduced its dependence on Russian fossil fuels, the Commission said.
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