The EU proposes new conditions for filling gas storage facilities by 2026

The European Union is discussing a proposal in the rules for filling gas storage facilities by 90%, including allowing countries to deviate from the target by 5% if market conditions are unfavorable. This is reported by Reuters, writes UNN.

Details

According to the media, the draft negotiating document, which is being discussed by EU countries this week, will allow each country to deviate by 5% from the EU target for filling gas storage facilities by 90% if market conditions are unfavorable for filling underground gas storage facilities.

The proposed change complements other options that member states have already developed, including the fact that the 90% target will no longer have a fixed deadline of November 1.

Instead, countries will need to fill their storage facilities to 90% by any date between October 1 and December 1.

Countries such as Germany, France and the Netherlands are concerned that the rules will lead to rising prices, indicating to the market that European buyers are obliged to purchase large volumes of gas within a set timeframe, creating the possibility of price manipulation.

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The countries’ proposal also provides for voluntary interim EU targets for filling gas storage facilities in the months leading up to November.

The negotiation proposal was prepared by Poland, which currently chairs the EU and is conducting negotiations between EU member states. 

Once the countries agree on their negotiating positions, which diplomats expect to be done within a few weeks, they will negotiate with the European Parliament on the final gas storage rules for 2026 and 2027.

The draft document states that Poland will work on further changes to the proposal on issues such as changing market conditions and the use of low-calorie gas.

Recall 

Euractiv previously reported that the European Commission wants natural gas storage facilities in Europe to be 90% full by the start of next winter. 

In particular, they want to avoid a repeat of the situation in 2021, when Russia’s Gazprom left European storage facilities almost empty before the full-scale invasion of Ukraine by the Russian Federation.