The EU Gas Storage Regulation requires that Europe’s gas reserves are refilled before the winter, and their management protected from outside interference. In particular, the new rules will require the EU Member States to fill storage facilities to 80 per cent of capacity by November this year – and to 90 per cent in the years after.
Welcoming the adoption at the Energy Council in Luxembourg, Commissioner for Energy, Kadri Simson, said, “This is an important statement of EU unity, determination and speed of action in the face of the Kremlin’s moves to weaponise their gas exports. It is now crucial that we press on with meeting the new storage targets and step up our preparedness in case the situation further deteriorates.”
Under the new storage legislation, the 18 Member States with underground gas storage facilities are required to fill 80 per cent of their storage capacity by November 1, 2022 – and are encouraged to aim for 85 per cent.
“Member States without storage infrastructure are required to agree bilateral arrangements for sufficient quantities to be stored for their use in neighbouring countries, in a spirit of solidarity,” European Commission said in a statement.
The new Gas Storage Regulation will enter into force on the day after its publication in the EU Official Journal.
Fibre2Fashion News Desk (RKS)