EU Countries Push Back on Extended Gas Storage Targets

EU Countries Push Back on Extended Gas Storage Targets

Commission Proposes Extended Storage Goals

The European Commission has proposed maintaining Europe’s binding gas storage targets until 2027. Despite calls for more flexibility, the Commission has indicated it will be more lenient in enforcing the requirements.

Concerns Over Flexibility and Costs

Several EU member states have raised concerns about the inflexibility of the targets. At a meeting of diplomats, countries including Germany and the Netherlands argued that the rigid storage filling requirements are driving up gas prices. They claim the rules signal to markets that European buyers are obligated to purchase gas, leading to higher costs for nations with large storage capacities.

Current EU Gas Storage Targets

The EU mandates a binding target to fill gas storage caverns to 90% capacity by November 1 each year. Additionally, there are intermediate targets set for the months leading up to November.

Calls for More Flexible Summer Targets

Many countries are advocating for softer targets during the summer months, allowing them greater control over how they meet the final November goal. According to EU diplomats, a majority of the bloc’s 27 member states support this demand.

Next Steps: Negotiation with the European Parliament

EU countries will now negotiate the extension of these storage targets with the European Parliament. This process provides an opportunity for amendments and potential modifications to the existing rules.

Background: Response to Russian Gas Supply Cuts

The gas storage requirements were first introduced in 2022 after Russia significantly reduced its gas deliveries to Europe. These measures were implemented to ensure a sufficient fuel buffer for winter months when heating demand peaks.

“EU Countries Push Back on Extended Gas Storage Targets” “EU Countries Push Back on Extended Gas Storage Targets”