Experts from the Commission, EU countries and stakeholder associations discussed the security of EU gas supply at yesterday’s Gas Coordination Group, taking stock of the current market situation and winter preparedness. While gas storage levels remain below the average of pre-crisis levels, the Group confirmed that there is currently no immediate concern for the security of gas supply in the EU for the next winter season.
The exchanges took place against the backdrop of the announced reopening of the Strait of Hormuz. The Group noted that the reopening could ease pressure on global LNG markets later this year, while recalling the lasting consequences of the conflict in view of the significant losses in global gas supply. In its update on the security of supply situation and winter preparedness, the European Network of Transmission System Operators for Gas (ENTSOG) confirmed the validity of the conclusions of the Summer Supply Outlook. Associations highlighted the ability of the EU energy market to cope with the situation and reported on the implementation of EU legislation in regards to security of gas supply.
The Group also confirmed that reaching gas storage levels of 80% is sufficient to secure gas supply for next winter. The Commission and Member States underlined the importance of continued coordination and preparedness in view of the evolving market situation. The Commission and the Gas Coordination Group will continue monitoring the security of gas supply in the EU and coordinate action as necessary.
