EU gas reserves are 90% full, two and a half months before the November 1 deadline, a sign the continent is “well prepared” for the coming winter amid volatile markets, he said. the European Commission on Friday.
Following Moscow’s invasion of Ukraine and the drastic reduction in Russian supplies, the EU-27 adopted a legislative framework in June 2022 that required them to collectively achieve a 90% fill rate for their gas tanks by November 1 of each year. anus.
A way to reinforce their energy autonomy and reduce their dependence on Russian gas supplies. Russia accounted for 15% of EU gas imports in the first quarter, a share halved in a year. At the same time, the Europeans increased their purchases of US liquefied natural gas (LNG).
84% in France
According to the aggregated data of “Gas Infrastructure Europe” (GIE), an association that brings together European gas infrastructure operators, European storage facilities were 90.12% full on Friday on average, or about 93,000 million cubic meters in total.
Levels vary by country, from 77% in Latvia to over 99% in Spain, with France showing a rate of 84%. According to the Commission, a rate of 90% can cover up to a third of the EU’s gas demand in winter.
“The EU is well prepared for winter, this will help further stabilize the (energy) markets in the coming months,” reacted the European Commissioner for Energy, Kadri Simson.
The gas market, however, remains vulnerable to sudden bursts of fever: prices had skyrocketed in early August, following threats of strikes in Australia at major gas facilities and against a backdrop of strong Asian demand.
“The Commission will continue to monitor the situation to ensure storage levels remain high enough as winter approaches,” Kadri Simson said.
“Stay on guard”
“The game is not over, we must remain on our guard and prepare for headwinds”, such as a harsher-than-expected winter or turbulence in the gas markets, the Czech Minister of Industry and Energy had already warned in July. , Jozef Sikela.
In addition, Member States have committed to reduce their gas consumption by 15% during the period from April 2023 to the end of March 2024 compared to the average recorded during the years 2017-2022.
They had far exceeded this goal last year thanks to good weather and high prices that prompted households and businesses to save money. The EU has reduced its gas consumption by 18% between August 2022 and May 2023 compared to the average of the previous five years.
Source: BFM TV
