EU debates flexibility on gas storage targets
The European Commission's proposal to extend the EU's current gas storage regulation until 2027 has met with resistance from member states, reported Reuters.
The proposal sought to ensure energy security and stabilise the European gas market amid geopolitical tensions and market fluctuations.
At a recent meeting, diplomats from EU countries called for more flexible targets, particularly during the summer months, to alleviate the pressure on gas prices and reduce the financial burden on countries with significant storage capacity.
The current EU targets mandate member states to fill gas storage caverns to 90% capacity by 1 November each year, with intermediate targets leading up to this deadline.
This policy was established in 2022 in response to reduced gas supplies from Russia, aiming to secure a sufficient buffer of stored fuel for the winter.
Germany and the Netherlands have expressed concerns that the obligatory nature of these targets is contributing to higher gas prices by signalling to the market a compulsory demand from European buyers.
These countries, which possess large gas storage facilities, are particularly affected by the cost implications of the storage requirements.
The Commission’s proposal kept 2025 filling targets unchanged, despite requests from countries such as the Czech Republic. Instead, it advised using existing rule flexibilities and indicated potential leniency for nations missing the November target due to market conditions.
EU gas storage is now 38% full, well below last year's 62% as cold weather and lower Russian supplies accelerated stock drawdowns, as per Gas Infrastructure Europe data.
During the diplomats meeting, a majority of the EU's 27 member countries supported the call for more relaxed targets.
The debate over the gas storage targets is set to continue as EU countries engage in negotiations with the European Parliament. This process presents an opportunity to potentially revise the rules, taking into consideration the diverse perspectives and needs of the member states.
"EU debates flexibility on gas storage targets" was originally created and published by Offshore Technology, a GlobalData owned brand.
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