Gas storages provide 30% of gas consumption in the EU during the winter months and critical for block energy security.
The Rada of the European Union and the European Parliament reached an initial agreement on expanding the current obligations of EU member states for gas accumulation before the heat period. This was reported by the European Commission’s press service on the eve of June 24.
Changes in gas storage regulations aim to reduce EU’s hope of unstable prices and external energy threats caused by Russia’s invasion against Ukraine.
The Minister of Poland Mazhen Charnetskaya industry called the agreement a “strategic victory.”
“Today’s agreement is a strategic success for our European sovereignty and resistance to Europe in the gas market manipulation. Provides enough gas reserves before winter, we not only protect our citizens and business shocks and disruption of supplies, but also sends a clear signal that we will not allow ourselves to pour out of the external energy,” he said. “
According to the agreement, the mandatory purpose of 90% of storage filling was maintained, but now it can be achieved in a more flexible way – during the period from October 1 to December 1, and not just until November 1.
In addition, the intermediate purposes of filling storage will be the advice of nature, which will allow market participants to buy gas in the most desired periods of the year.
This decision will allow EU member states to respond faster to changing market conditions, ensuring the stability of the domestic market and energy security before each winter.
Remember that despite a significant reduction in gas supply from Russia after 2022, the EU last year increased the import of liquid gas from the Russian Federation – it covers 19% of the needs of the European Union.
Earlier it was reported that the European Union had decided until 2027 to completely abandon Russia’s gas. Starting this year, the delivery will start at a promising Black Sea Field in Romania, the operator of which has signed the first contract in Germany.
EU speeds up gas pumping in storage
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Source: korrespondent
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