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EU surpasses gas storage target as winter looms

EU surpasses gas storage target as winter looms

17:38, 31.10.2024
  Franciszek Beszłej/pk ;
EU surpasses gas storage target as winter looms Gas storage facilities in the European Union have surpassed the 90% target set for November 1, reaching over 95% of capacity as winter approaches, the bloc’s executive said on Thursday.

Gas storage facilities in the European Union have surpassed the 90% target set for November 1, reaching over 95% of capacity as winter approaches, the bloc’s executive said on Thursday.

Gas storage in the EU has surpassed a 90% target. Photo: Thierry Monasse/Getty Images
Gas storage in the EU has surpassed a 90% target. Photo: Thierry Monasse/Getty Images

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The EU has prioritized winter gas storage to protect against supply disruptions from Russia, which has used energy as leverage against Europe following its invasion of Ukraine.

According to Gas Infrastructure Europe, an organization representing infrastructure operators, there is currently around 100 bcm of gas in storage in the EU, around a third of the EU's annual gas consumption.

A regulation requiring member states to gradually increase gas reserves throughout the year was introduced in June 2022 in response to an energy crisis triggered by Russia’s invasion of Ukraine.

The regulation mandates that storage facilities be at least 90% full by November 1 each year to protect the bloc’s energy stability and reduce reliance on Russian fossil fuels. Since its implementation, the European Union has seen a reduction in its energy dependency on Russia.

Tim McPhie, a spokesperson for energy issues in the European Commission, said: “Countries had until November 1 to meet the 90% target, but storage levels exceeded this, reaching over 95% as of yesterday.”

Kadri Simson, the EU’s Commissioner for Energy, pointed to Moscow’s “blackmail” attempts as the main reason for this policy.

She said: “When Russia invaded Ukraine and tried to blackmail Europe with its energy supplies, we took rapid action to protect ourselves against future supply shocks.”

“This work is paying off, and we enter this winter with a healthy level of gas in storage across Europe, diversified energy supplies, a higher share of renewable energies, and a renewed commitment to energy efficiency and energy savings,” she added.
 
 
 
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