US EditionEU Urges Early Gas Storage Fill as Iran Conflict Raises Supply Risks
7 Articles
7 Articles
The European Commission has called on EU countries to reconsider their approach to building gas reserves amid energy instability caused by the war in the Middle East.
EU Calls for Early Gas Storage Mobilization Amid Fallout from Iran War
BRUSSELS – The European Union’s Energy Commissioner has urged member states to take early action to fill gas storage facilities, aiming to preempt supply competition that could drive up prices during the summer as the bloc seeks to contain the fallout from the war in Iran.
EU urges member states not to delay filling gas storage - BloombergEuropean Commissioner Dan Jorgensen has urged EU countries to start filling storage facilities early to avoid a price spike. Governments are being asked to lower their targets.
European countries must immediately begin filling their underground gas storage facilities. The European Commission has called on EU countries to promptly fill their underground gas storage facilities. Delays could trigger fierce competition for resources and an abnormal price spike this summer, RBC-Ukraine reports, citing Bloomberg. Read also: Gas prices in Europe soar 35% after strike on world's largest LNG complex In a letter seen by the publ…
Should avoid a raceDan Jørgensen writes in the letter that member states should lower the target for when gas storage is full. It should be 80 percent of capacity, according to the Financial Times. This is 10 percentage points below the EU's official target. The target of 90 percent full gas storage was introduced after Russia's invasion of Ukraine in 2022. According to Dan Jørgensen, the lowering of the target should take place "as early as pos…
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