Netherlands Pushes to Scrap EU Gas Storage Mandate After $1.14 Billion Bill
The government wants commercial suppliers to carry more of the burden after spending about $1.14 billion to build winter inventories, officials said.
- On September 24, European Union gas storage sites reached 70% capacity, though the European Commission acknowledged "lower storage levels compared to historical levels" while maintaining that supply remains stable.
- Choked LNG flows from the Middle East through the Strait of Hormuz since the Iran war began on February 28 have sent gas prices to their highest levels since the 2022-2023 energy crisis, forcing buyers to compete for limited supply.
- Germany, holding the world's fourth-largest storage capacity, reports only 57% levels as of September 24, while soaring prices cost the Dutch government nearly $1.14 billion this summer to build up inventories.
- Commission energy spokeswoman Anna-Kaisa Itkonen confirmed the European Commission will monitor the situation closely, with EU energy ministers scheduled to discuss high prices and supply issues in Dublin on September 28-29.
- In response to the Ukraine war, the European Union plans to phase out Russian gas imports by 2027, rejecting calls from Italian Deputy Prime Minister Matteo Salvini to resume purchasing Russian energy.
64 Articles
64 Articles
Observador
Correio da ManhãThe European Commission reaffirms that the provision of essential families and services is guaranteed, even with geopolitical volatility and under-storage.
The European Commission has today ensured that gas supply in the European Union (EU) remains stable, although storage levels are below historical values, closely monitoring risks to the energy market before winter.
The Dutch government is calling for the current form of EU gas storage replenishment targets to be phased out, as they place a disproportionate burden on member states with significant storage capacity. The Netherlands is proposing that the targets be linked to actual gas demand rather than storage capacity. Dutch storage is currently at 57 percent, while the European benchmark gas price on the TTF, which is linked to the Dutch market, has risen…
The Commission today provided an update on the meeting of the Gas Coordination Group, which sees stable supplies “for the time being”. Spokesperson Anna-Kaisa Itkonen said that “the Commission and the EU countries have reconfirmed that the EU’s gas supply remains stable for the time being”. As she noted, “we are obviously operating at the moment in a global environment that is very volatile, with extremely high energy prices and a very unpredi…
"We operate in a global environment that is very volatile, with extremely high energy prices," said spokesperson Anna-Kaisa Itkonen.
Coverage Details
Bias Distribution
- 72% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
