EC To Adopt Proposals For European Gas Storage Facilities

The European Commission intends to agree its recommendations on EU gas and hydrogen market legislation, including storage proposals, on 14 December, European Commissioner for Energy Kadri Simpson said.

« We are preparing a package on the gas and hydrogen market, which will be adopted on 14 December. It will include a review of regulation on gas supply security, » she said.

According to the Commissioner, « one of the most important elements of the package will be storage » of gas in the European Union.

« We need a more strategic and coordinated approach. We are looking at how joint procurement in gas storage can increase sustainability and contribute to price stability, » she said.

European Commission head Ursula von der Leyen said in late October that the EU would examine the creation of strategic gas storage amid a strong rise in the price of the fuel.

One of the reasons for the high cost was thought to be the low level of blue fuel reserves in the union ahead of winter.

Simpson noted at the press conference that gas prices in Europe have come down from their peak levels but still remain higher than usual.

source: ec.europa.eu

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