EU urges slower gas replenishment

The European Union has called on member states to lower targets for filling gas storage facilities and to replenish stocks more gradually. The move comes in response to a sharp rise in energy prices linked to the US–Israeli war with Iran, the Financial Times reported.

According to the letter, Energy Commissioner Dan Jørgensen advised member states to reduce the storage target to 80 per cent of capacity, ten percentage points below the current level. He also called for earlier and more gradual replenishment to ease pressure on the market and provide greater certainty for investors.

Meanwhile, gas prices in Europe have risen sharply – by as much as 35 per cent – following attacks on energy infrastructure in the Middle East, the effects of which could persist for years. Brussels, however, says EU supplies remain relatively stable for now.

Gas storage facilities are central to meeting winter demand and ensuring the region’s energy security. The European Commission has therefore also called for greater flexibility in the application of gas import rules to help prevent supply disruptions during the current crisis.

(reuters, lud)