Brussels [Belgium], March 6 (ANI/WAM): The European Commission has proposed to prolong EU gas storage obligations until the end of 2027 to ensure security of energy supply and help stabilise the European gas markets.
At the same time, for the upcoming storage filling season of summer 2025, the Commission will provide more flexibility to 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.
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.
Commissioner for Energy and Housing Dan Jorgensen 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.”
The current regulation, in force until the end of the year, already provides some flexibility and safeguards. Notably, it allows a 5-percentage point deviation from the intermediary filling targets. Moreover, Member States have the possibility to meet the 90% target on 1 December if they cannot meet it on 1 November, in particular in case of technical issues, such as pipeline constraints or injection facility problems, or in case of specific market conditions.
The Regulation also foresees lower filling obligations for those Member States which have significant underground storage capacity, and it allows Member States with substantial LNG storage infrastructure to count such storage toward the 1 November target.
A report on the functioning of the legislation, also adopted today, highlights that the Gas Storage Regulation has helped ensure stable supplies and less volatile gas markets since its adoption in 2022. (ANI/WAM)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
