27.06.2022, 15:55
The EU Adopted a Regulation on Gas Reserves in UGSFs
Source: OREANDA-NEWS
OREANDA-NEWS On Monday, June 27, the Council of the EU adopted the final regulation on filling the EU's gas storage capacities before the winter season and allowing them to be shared among member states despite gas market disruptions.
It was stated that now the EU has an instrument that requires all member states to have sufficient gas supplies for winter and facilitates exchanges between countries.
The Council Resolution provides that UGS facilities in the territories of the Member States must be filled to at least 80% of their capacity before the winter of 2022-2023, and up to 90% - until the next winter periods.
"In general, the EU will try to collectively fill 85% of the total volume of underground gas storage in the EU in 2022", the Council of the European Union said in a communiqué published in Brussels.
Some Member States do not have gas storage facilities on their territories. Thus, the regulation stipulates that they must store 15% of their annual domestic gas consumption in storage facilities located in other Member States. This mechanism will strengthen the security of their gas supplies, as well as share the financial burden associated with filling the EU's storage facilities.
The regulation provides for mandatory certification of all operators of underground gas storage facilities by the authorities of the Member States concerned. The purpose of this certification is to "avoid potential exposure of crucial storage infrastructures to external risks that could jeopardize the security of the EU's energy supply and other important security interests".
In addition, there are exceptions to the requirements of the regulation for Cyprus, Malta and Ireland, since they are not directly connected to the gas system of other member states.
It was stated that now the EU has an instrument that requires all member states to have sufficient gas supplies for winter and facilitates exchanges between countries.
The Council Resolution provides that UGS facilities in the territories of the Member States must be filled to at least 80% of their capacity before the winter of 2022-2023, and up to 90% - until the next winter periods.
"In general, the EU will try to collectively fill 85% of the total volume of underground gas storage in the EU in 2022", the Council of the European Union said in a communiqué published in Brussels.
Some Member States do not have gas storage facilities on their territories. Thus, the regulation stipulates that they must store 15% of their annual domestic gas consumption in storage facilities located in other Member States. This mechanism will strengthen the security of their gas supplies, as well as share the financial burden associated with filling the EU's storage facilities.
The regulation provides for mandatory certification of all operators of underground gas storage facilities by the authorities of the Member States concerned. The purpose of this certification is to "avoid potential exposure of crucial storage infrastructures to external risks that could jeopardize the security of the EU's energy supply and other important security interests".
In addition, there are exceptions to the requirements of the regulation for Cyprus, Malta and Ireland, since they are not directly connected to the gas system of other member states.
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