On Wednesday 1 November, the European Commission welcomed the fact that gas storage in the European Union had reached an all-time high of 99.5%, representing more than 100 billion cubic metres and exceeding the 90% target set for 1 November 2023.
“The EU is prepared for winter”, said the European Commission’s Directorate-General for Energy via social network X.
In the regulation on gas storage published on 23 March 2022 (see EUROPE 12917/7), as part of the communication on security of supply and affordable energy prices, the European Commission set a gas storage obligation of at least 80% for 1 November 2022. This obligation increased to 90% for subsequent years.
The gas storage regulation (see EUROPE 13070/43), adopted on 23 November 2022, set the target of 90% for 1 November 2023. This was already reached on 18 August 2023 (see EUROPE 13234/12), i.e. 2 and a half months before the deadline. According to the Financial Times, as the EU approaches maximum capacity, energy companies are reportedly turning to Ukraine to store gas reserves. (Original version in French by Pauline Denys)