EU countries have been urged to begin refilling gas storage sites for next winter early and in a coordinated way, amid volatile energy markets linked to the conflict in the Middle East.
The EU’s energy supply remains protected “at this stage” because the bloc relies only limitedly on imports from the region and because liquefied natural gas (LNG) cargoes passed through the Strait of Hormuz before the conflict, the European Commission stated on Thursday.
Commissioner for Energy and Housing Dan Jørgensen said the EU is better prepared than in 2022 but remains exposed to “volatile global” markets, calling for coordinated winter planning and earlier gas storage injections to avoid an end-of-summer rush and reduce pressure on prices.
Flexibility in gas storage targets
In a letter to EU energy ministers, Jørgensen pointed to the EU Gas Storage Regulation, which allows flexibility in how countries meet storage-filling targets under certain conditions.
That includes the possibility of reaching the target over a longer period, or reducing the target in specific circumstances, which the Commission said can help lower demand when supply is tight and ease pressure on European gas prices.
