European member states are obliged to replenish gas stocks | Inland

In a draft communication, which De Tijd was able to view, the European Commission speaks of a “growing gas crisis”. Energy prices remain “at record high” and may continue to rise. The volatility will persist until at least 2023, the Commission warns. Energy prices also remain the main driver of inflation this year.

The European toolbox is not enough to contain this crisis. The supply of gas is a particular problem, especially with the geopolitical tensions between Russia and the West. Europe is dependent on imports for 90 percent of its gas consumption. Natural gas reserves are also dwindling visibly. In February, the available storage capacity was about 30 percent full. That is 10 percent less than in previous years.

The commission is therefore announcing legislation to oblige member states to replenish their gas stocks by the end of September each year. Specifically, the obligation to refill up to 80 percent of the capacity is being considered, EU sources report. In Europe, the strategic storage of gas stocks is not mandatory. For oil, international agreements have been made about this since the oil crisis in the 1970s.

In addition, the Commission wants to invoke a 2009 obligation to share energy supplies in times of crisis. The European Commission will have to play an arbiter in this obligatory solidarity.

Another dogma has also fallen: uncritical confidence in the free market. Governments can provide financial incentives to companies offering storage capacity to fill storage tanks to the desired level. They may prevent excessive storage prices or guarantee non-discriminatory access.