A group of EU member states with the largest natural gas storage capacity has been discussing the possibility of relaxing the binding gas storage targets after 2025, sources have told Bloomberg.
Following the 2022 Russian invasion of Ukraine and the suspension of Russian gas supplies to most EU countries, the European Commission set a target for EU natural gas storage to be 90% full by November 1 each year, ahead of winter. The Commission also set intermediate targets for February 1, May 1, July 1, and September 1, 2025, to ensure gas storage sites are nearly full for the winter season.
However, policymakers in several EU countries, including Germany, Italy, and the Netherlands, have raised concerns. They worry that high gas prices during the summer months could make it unprofitable for gas companies and traders to store gas.
Federico Boschi, head of the energy department at Italy’s Ministry of Environment and Energy, told Bloomberg that Italy is open to considering requests from other EU member states, including Germany. He indicated that Italy could support easing the targets.
Pieter ten Bruggencate, a spokesperson for the Dutch energy ministry, told Bloomberg that the Netherlands would favor a gas storage ambition rather than a binding target.
Other countries involved in these discussions include France, Germany, and the Czech Republic, according to ten Bruggencate.
In the meantime, the European Union is considering extending the current natural gas storage targets for EU member states beyond 2025, potentially for at least another year, diplomats told Reuters last month.
This winter, EU gas storage was nearly 95% full by the November 1 deadline.
However, colder weather this winter—unlike the previous two milder winters—and low wind speeds in much of northwest Europe have led to a rapid depletion of EU storage, at the fastest rate in eight years.
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