The new rules are aimed at protecting EU countries from Russia's use of gas as an energy weapon and market manipulation.
The European Union is changing its approach to winter gas storage. EU countries have agreed with the European Parliament to relax requirements for mandatory filling of gas storage facilities – the agreement was reached amid concerns about a sharp rise in fuel prices.
Reuters reports this.
Following Russia's full-scale invasion of Ukraine in 2022, Moscow sharply cut gas supplies to Europe, sending prices soaring and forcing Brussels to impose strict gas storage standards.
One such regulation required member states to fill their gas storage facilities to 90% capacity by November 1 each year. However, the EU has assessed that the hard deadline encourages purchases at inflated prices, puts pressure on the market and increases financial pressure on states.
The new arrangements allow EU countries to achieve this target in a more flexible period – from 1 October to 1 December. This should reduce the risks of speculation and help to optimise the procurement schedule.
“The European Union needs stable, affordable energy supplies to thrive. Gas storage is key to our supply security and market stability. It also protects us from Russia's use of energy weapons and market manipulation,” said EU Energy Commissioner Dan Jorgensen.
The agreement will enter into force after formal approval by the EU Council and the European Parliament.
Earlier it was reported that Serbia is brazenly ignoring EU recommendations on Russian gas .
We previously reported that the European Commission made an official proposal to completely stop imports of gas and oil from Russia by the end of 2027.
