EC proposes prolonging EU gas storage obligations
The European Commission (EC) said on March 5 that it was proposing to prolong EU gas storage obligations until the end of 2027 to ensure security of energy supply and help stabilise European gas markets.
After Russia’s 2022 invasion of Ukraine, EU countries 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.
The Commission’s March 5 statement said that at the same time, for the upcoming storage filling season of summer 2025, it would provide more flexibility to EU member states by taking into account the specific developments on the gas market.
This will help them fill their facilities throughout the season at optimal purchase conditions, the statement said.
“Today’s proposal for a two-year extension of the Regulation is accompanied by a Commission recommendation on the gas storage filling targets for 2025 which also invites the Member States to take into account the current market conditions when deciding on national measures to refill storage.
“Enhanced flexibility in reaching the targets helps to avoid potential market distortions,” it said.
European Commissioner for Energy and Housing Dan Jørgensen said: “Gas storage has shielded EU citizens from the risk of supply disruptions and this is why it is crucial that we continue with this tool.
“However, Member States need sufficient flexibility to fill the storage throughout the summer under the best conditions. We are recommending this flexibility today to avoid market distortions in the current situation and reduce the stress in the market,” Jørgensen said.
A report on the functioning of the legislation, also adopted March 5, highlights that the Gas Storage Regulation has helped ensure stable supplies and less volatile gas markets since its adoption in 2022, the Commission said.
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