EU Sets Gas Storage Target Levels for 2024

EU natural gas storage must be at least 45% full on 1 February and preferably 55% full at that time according to new targets published in the EU’s Official Journal on Thursday.

• The EU has also set intermediary targets form 1 May, 1 July and 1 September which if not reached could pose a serious risk of not meeting the 90 % storage target on 1 November 2024. The targets are based on inputs from national governments and the gas sector.
• “Flexibility should be provided in the early winter months in case of a winter that is colder than average,” said the European Commission.
• The higher target for February is aimed at protecting against any EU wide gas supply security disruption and emergency demand cuts.
• The intermediary target of 45 % on 1 May 2024 is to facilitate storage refilling in the event of higher demand and/or reduced supply during summer 2024.
• Individual EU targets have been set for each of the 18 member states with underground gas storage facilities. If countries fall more than five percentage points below target then governments must act immediately to increase storage levels and inform the EC.