- European Union countries are considering rules that would let them deviate by 10 percentage points from the bloc’s requirement to fill gas storage 90 per cent before winter.
- EU countries are negotiating an extension of the targets by two years to 2027, plus changes that would soften them in 2026 and 2027 – as well as in 2025, if they can agree the changes quickly enough.
European Union countries are considering rules that would let them deviate by 10 percentage points from the bloc’s requirement to fill gas storage 90 per cent before winter, EU diplomats stated.
The EU’s gas storage rules were introduced in 2022 to ensure EU countries had a buffer of stored fuel during winter after Russia cut deliveries following its invasion of Ukraine.
However, some EU countries are concerned that binding storage-filling targets inflate gas prices because they signal to market participants when European buyers will need large volumes.
The current rules include a binding target to fill storage to 90 per cent capacity by November 1, and this target is due to expire by the end of this year.
EU countries are negotiating an extension of the targets by two years to 2027, plus changes that would soften them in 2026 and 2027 – as well as in 2025, if they can agree the changes quickly enough.
EU country diplomats showed support at a meeting on Tuesday, April 8 for a proposal to allow countries to deviate by 10 percentage points from the 90 per cent filling target for November if there are “unfavourable” market conditions, EU diplomats said.
Under the proposed changes, governments will also be allowed to reach the 90 per cent goal at any time between October 1 and December 1. Germany and France were among the countries calling for the 10 percentage point deviation, the diplomats said.
Member states have rejected an initial plan by the European Commission to extend the existing binding targets, with no changes, for two more years.
Countries agreed in the meeting on Tuesday that the changes could apply to this year’s November storage target if the rules are finalised and published before that date, the EU diplomats said.
EU governments aim to approve their position on the rules on Friday, after which they must negotiate the final law with the European Parliament.
Countries also plan to make voluntary the EU’s binding intermediate filling targets for the months leading up to November, based on the latest negotiating document published by Poland, which supervises the negotiations as holder of the EU’s rotating presidency.