Filenews 27 June 2022
The Council of Ministers adopted a regulation aimed at ensuring that gas storage capacities in the EU are met before the winter season and can be shared between Member States in a spirit of solidarity, despite disruptions in the gas market.
The regulation provides that the underground storage of natural gas on the territory of the Member States must reach at least 80% of its capacity before the winter of 2022-2023 and 90% before the following winter seasons. Overall, the EU will collectively strive to cover 85% of the total underground gas storage capacity in the EU in 2022.
Some Member States do not have storage facilities on their territory and so the Regulation provides that they will have to store 15% of their annual domestic gas consumption in reserves located in other Member States and thus have access to gas reserves stored in other Member States. This mechanism will enhance their security of gas supply, while sharing the financial burden of meeting the EU's storage capacity.
The Regulation also provides for the mandatory certification of all operators of the underground gas storage site by the authorities of the Member States concerned. The aim of this certification is to avoid possible risks of external influence on critical storage infrastructure, which could jeopardise the security of the EU's energy supply and other key security interests.
The obligations to fill storage capacity will expire on 31 December 2025, but the obligations to certify a stock operator will continue to apply after that date. The Regulation also provides for the granting of a derogation to Cyprus, Malta and Ireland if they are not directly linked to the gas system of other Member States.
Source: Capital.gr
