EU countries back looser rules for filling gas storage ahead of winter

European Union countries have agreed to support looser rules for filling gas storage facilities ahead of winter. They are concerned that the bloc’s current binding rules are driving up gas prices. This is according to a statement issued by the EU Council today. Countries must now negotiate the final rules with the European Parliament.

The Council agreed to extend by two years the existing requirement for EU countries to fill gas storage facilities to 90 percent before winter. At the same time, member states will have greater flexibility to adapt to ever-changing market conditions and avoid possible market manipulation. The decision is intended to improve energy security and stability in the gas market. Some countries feared that the storage-filling requirement sent a signal to the market that European buyers had to purchase gas, driving up prices and resulting in high bills for countries with large storage facilities.

Gas storage targets were introduced in 2022, when Russia cut gas supplies following its aggression against Ukraine. The targets are intended to ensure that EU countries have fuel reserves in storage during the winter months, when demand for gas for heating peaks.

The current target, which has been extended by two years, stipulates that gas storage facilities in the EU must be 90 percent full by November 1 each year. The new proposal would allow this target to be met at any time between October 1 and December 1. Countries must also meet additional targets in some months. These targets would now be indicative only. In the event of adverse market conditions, member states would be able to deviate from the filling target by ten percentage points.

The changes would apply to 2026 and 2027. They could take effect as early as this November if countries and lawmakers manage to approve the rules before then.