Dutch Seek End to Gas Storage Goals in EU Supply Security Revamp
The government wants commercial suppliers to carry more of the burden after spending about $1.14 billion to build winter inventories, officials said.
- On September 24, European Union gas storage sites reached 70% capacity, with the European Commission acknowledging "lower storage levels compared to historical levels" while maintaining that supply remains stable.
- Choked LNG flows from the Middle East through the Strait of Hormuz since the Iran war began on February 28 have sent prices to their highest levels since the 2022-2023 energy crisis.
- Germany, holding the world's fourth-largest storage capacity, reports only 57% levels as of September 24, while filling inventories cost the Dutch government nearly $1.14 billion this summer.
- Commission energy spokeswoman Anna-Kaisa Itkonen confirmed the European Commission will monitor the situation closely, with EU energy ministers scheduled to discuss high prices in Dublin on September 28-29.
- The European Union plans to phase out Russian gas imports by 2027 in response to the Ukraine war, rejecting calls from Italian Deputy Prime Minister Matteo Salvini to resume Russian energy purchases.
6 Articles
6 Articles
Netherlands Pushes to Scrap EU Gas Storage Mandate After $1.14 Billion Bill
The Netherlands considers that the current EU system of gas storage targets ahead of winter is inadequate and burdens governments that have to pay for meeting the EU-wide obligations. The Dutch government has already spent almost $1.14 billion (1 billion euros) this summer season alone on building up inventories, while this task should fall mostly on the gas market participants, Climate Minister Stientje van Veldhoven said in a letter to Parliam…
Dutch Seek End to Gas Storage Targets After €1 Billion Bill
The Netherlands wants to scrap mandatory gas storage targets under a revamp of the European Union’s energy supply security rules after spending nearly €1 billion ($1.1 billion) this year to fill the country’s reserves.
Europe still hasn't recovered gas reserves, but it's already forced to take fuel out of storage, and it's actually autumn in the region, and it's also windless and reduced supplies from Norway are forcing more gas to burn.
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