Global natural gas storage regulation

Why did the European Commission extend the gas storage regulation?

The European Commission proposed Thursday to prolong its Gas Storage Regulation until the end of 2027, citing ongoing geopolitical uncertainty and volatile global gas markets. The two-year extension aims to ensure continued energy security and market stability across the European Union.

How does the gas storage regulation affect energy supply?

Over the past years, the Gas Storage Regulation has significantly contributed to ensuring security of energy supply for the EU as well as stability to the gas market. Gas storage contributes to security of supply by providing additional supply if there is strong demand or if supply is disrupted.

When does the gas storage regulation expire?

The Gas Storage Regulation was adopted June 2022 at the height of the energy crisis. It will expire at the end of 2025. “The EU’s significant gas storage capacities and EU storage facilities are the main supply source of gas in winter, ensuring 30 percent of EU winter supply”, the Commission added.

Why do we need a gas storage regulation?

We are recommending this flexibility today to avoid market distortions in the current situation and reduce the stress in the market.' The Gas Storage Regulation was adopted in June 2022, at the height of the energy crisis, to ensure sufficient supplies to power EU homes and businesses throughout winter.

Why does the EU need a gas storage facility?

The EU’s significant gas storage capacities and EU storage facilities are the main supply source of gas in winter, ensuring 30% of EU winter supply. Enabling companies to purchase and store cheaper gas in summer, when demand is lower in the EU, helps to make energy more affordable for EU citizens.

Should natural gas storage facilities be 90 percent full in 2027?

The European Commission has formally proposed to prolong to 2027 a regulation requiring that natural gas storage facilities in the European Union be at least 90 percent full by November each year.