How long can european natural gas storage be used

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.

How much gas does the EU supply in winter?

Since the 90% filling target was established, the EU has consistently exceeded it before the beginning of each heating season. 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.

How will a 2 year Gas extension affect the EU?

In the current geopolitical context and volatile situation in the global gas markets, this 2 year extension will contribute to ensuring continued security of energy supply across the EU and stability of the European gas market. It will notably ensure that the EU prepares for the upcoming winter seasons in a coordinated manner.

Are Europe's natural gas storage facilities full?

Natural gas storage facilities in Europe are 72% full, which is near the five-year average for this time of year, according to Gas Infrastructure Europe data compiled by Bloomberg . The gains came despite heat waves that have boosted electricity demand for cooling, which uses up natural gas.

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 is gas storage important?

'Gas storage has shielded EU citizens from the risk of supply disruptions and this is why it is crucial that we continue with this tool. However, Member States need sufficient flexibility to fill the storage throughout the summer under the best conditions.