Brussels: The European Commission has put forward a proposal to extend the EU's gas storage requirements until the end of 2027, aiming to enhance energy supply security and stabilize the European gas markets.
Additionally, for the upcoming summer 2025 storage filling season, the Commission plans to offer greater flexibility to Member States by considering the unique developments within the gas market.
This approach will enable them to optimally fill their storage facilities throughout the season under favorable purchasing conditions.
The proposal for a two-year extension of the Regulation is accompanied by a recommendation from the Commission regarding gas storage filling targets for 2025, which encourages Member States to factor in current market conditions when implementing national strategies for refilling storage.
The increased flexibility in achieving these targets is designed to prevent potential market distortions.
Dan Jorgensen, the Commissioner for Energy and Housing, stated, "Gas storage has protected EU citizens from supply disruption risks, making it essential to maintain this tool. However, it is important for Member States to have adequate flexibility to fill storage during the summer under optimal conditions. We are advocating for this flexibility today to mitigate market distortions and alleviate market pressures."
The existing regulation, effective until the end of the year, already incorporates some flexibility and safeguards. It notably permits a 5-percentage point deviation from the interim filling targets. Furthermore, Member States can achieve the 90% target by December 1 if they are unable to meet it by November 1, particularly due to technical challenges such as pipeline limitations or injection facility issues, or specific market circumstances.
The Regulation additionally provides for reduced filling requirements for Member States that possess considerable underground storage capacity. It permits those with significant LNG storage facilities to include this storage in meeting the target set for 1 November.
A report on the implementation of the legislation, also released today, emphasizes that the Gas Storage Regulation has contributed to maintaining stable supply levels and reducing volatility in gas markets since its introduction in 2022.
