The European Parliament’s Industry, Research and Energy Committee has adopted a draft law to extend and revise the European Union’s gas storage framework, introducing more flexible rules to help reduce market pressure and lower gas prices. The initiative, supported on 24 April, aims to enhance energy security while addressing concerns over price volatility linked to rigid storage requirements. Initially implemented in 2022, the EU’s gas storage scheme was set to expire in 2025. The proposed extension through 31 December 2027 is designed to safeguard the bloc’s energy preparedness during winter seasons.
Lawmakers emphasized that maintaining sufficient gas reserves is critical to preventing supply disruptions, particularly amid ongoing global energy market instability. The adopted draft includes several amendments that adjust the regulatory obligations placed on member states. Central to the changes is a revision of the mandatory storage fill target. Under the current rules, EU countries are required to fill gas storage facilities to 90% capacity by 1 November each year. The proposed amendment lowers this target to 83%, to be met at any point between 1 October and 1 December.
This move is intended to mitigate market distortion caused by rigid deadlines and anticipated demand surges. In addition, the legislation introduces conditional flexibilities to allow deviations from the 83% target in response to exceptional market circumstances. Member states could reduce the target by up to four percentage points if facing adverse conditions such as disrupted supply chains or spikes in demand. Should such conditions persist, the European Commission would be authorized to approve a further reduction of up to four percentage points, giving states a maximum allowable deviation of eight percentage points.
Despite these flexibilities, member states will remain obligated to meet a minimum threshold. MEPs stipulated that even with all permitted derogations applied, total gas storage must not fall below 75% of capacity. This requirement aims to ensure that the EU retains a foundational level of preparedness, even under strained conditions. The committee’s report was approved with 64 votes in favor, 10 against, and 12 abstentions.
The legislative text will now proceed to the full European Parliament for a plenary vote, scheduled to take place from 5 to 8 May in Strasbourg. Lawmakers backing the reform argue that the revised targets strike a necessary balance between maintaining energy security and reducing speculative behavior that drives up energy prices. By introducing more adaptable storage policies, the EU hopes to stabilize gas markets while preserving readiness for future supply shocks. – By MENA Newswire News Desk.
