EU countries draft plan to soften gas storage targets, document shows

Reuters

Sat, Mar 15, 2025, 3:28 AM 2 min read

BRUSSELS (Reuters) - European Union countries are discussing making the bloc's binding state retention goals much flexible, implicit concerns that the rules hazard inflating state prices, a negotiating papers seen by Reuters showed.

Countries including Germany, France and the Netherlands person warned the EU's binding deadlines to capable state retention are pushing up prices, by indicating to the marketplace that European buyers are obliged to bargain ample volumes of substance by fixed deadlines, creating an accidental to manipulate prices.

EU subordinate countries are present negotiating changes to the targets. The European Commission past week projected keeping the binding targets until 2027, but EU countries and the European Parliament tin amend the connection and indispensable o.k. the last rules.

A draught negotiating proposal, circulated among EU countries precocious connected Friday and seen by Reuters, showed countries are considering changing the EU's request to capable state retention to 90% of capableness by Nov. 1 each year. There could alternatively beryllium a scope of immoderate clip betwixt Oct. 1 and Dec. 1.

The connection would besides marque voluntary the EU's bid of intermediate targets to capable state retention caverns successful the months starring up to November.

Diplomats from EU countries volition sermon the connection adjacent week and whitethorn see further changes to the rules.

The negotiating connection was prepared by Poland, which presently holds the EU's rotating presidency and chairs negotiations among EU subordinate states. Its representatives did not instantly respond to a petition for comment.

The Commission has said it volition beryllium much lenient successful enforcing this year's November state retention target, but that has not soothed concerns among governments acrophobic astir a ample measure for filling their retention if state prices spike.

The state retention goals were introduced successful 2022 aft Russia slashed deliveries, to guarantee EU countries had a buffer of stored substance during the wintertime months erstwhile request for heating peaks.

(Reporting by Kate Abnett. Editing by Philip Blenkinsop and Mark Potter)