European Commission launches third round of joint gas purchases

Brussels, 21 September (CTK correspondent) – The European Commission (EC) has launched the third round of joint gas purchases to help EU member states fill their storage facilities ahead of winter and offset the reduction in supplies from Russia. The Commission is inviting European companies to register their gas demand by 27 September. It said today in a statement.

The EU executive will seek supply offers on international markets on 3 and 4 October for deliveries covering the period from December 2023 to March 2025. „This year, we are entering winter on a much stronger footing when it comes to energy supplies,“ Commission Vice-President Maroš Šefčovič said. He added that gas storage facilities are almost full, sources of supply are more diversified and renewable energy sources are playing a greater role.

„The gas market situation nevertheless remains tense. We must therefore remain vigilant and continue joint gas purchases to ensure stable and affordable supplies.“ he added.

In the first two rounds of joint purchases under the AggregateEU mechanism, companies requested 27.5 billion cubic metres of gas in May and July. Of that, 22.9 billion cubic metres were matched with supplier offers.

As Reuters noted, these volumes represent only a small fraction of total EU demand, which is around 360 billion cubic metres. Any amount of gas will nevertheless help member states prepare for another winter, given that Moscow cut off most gas flows to Europe after its invasion of Ukraine in February last year and the subsequent Western sanctions.