The European Parliament has agreed to alleviate the requirements for pumping gas to store European Union countries. In order not to excite the market speculation, the standardization was extended in 90 % of the filling for a month – until December.
The European Parliament approved the draft law to amend the extent of gas storage.
“The new law approved in the plenary session aims to combat speculation in the gas market and reduce prices, which provides greater flexibility in the rules for renewing gas warehouses.” – The European Parliament said.
Initially, the European Commission found that all the basement of the European Union countries should fill 90 % no later than November 1. Now, the ornament has been allowed to fill 90 % from October 1 to December 1. The mandatory mobilization rules will be valid until the end of 2027, when the European Union plans completely to stop importing Russian gas.
“The law will allow member states to achieve a 90 % targeted mobilization rate at any time from October 1 to December 1. Once the target index is achieved by 90 %, maintenance of reserves at this level is not necessary,” European Parliament reports.
Representatives also supported the idea of the European Commission to establish a monitoring of the Russian gas share in storage facilities.
Now the draft law must agree to the European Union Council.
The European Union storage provides a 30 % consumption of consumption of 30 % and is one of the main sources of supplies in the winter. At European pH, you can store more than 100 billion cubic meters. Last winter, European Union countries have increased fuel consumption, and this season is necessary to renew the stocks of 30 billion cubic meters, including due to Ukrainian transportation.
The current gas quotes on European stock exchanges exceeding $ 420 per thousand cubic meters – it is the highest twice the level of the crisis. Because of the penalties and counter -fighting, Gazprom has reduced the offer five times. At the same time, access to liquefied natural gas is limited and its cost is higher. The European Union expects that in the coming years in the United States and Qatar, large liquefied natural gas projects will launch the market and reduce prices.
As I mentioned Eadaily In the middle of the Rolling Rolling season in Europe, the largest gas storage in the European Union, the German “Reden” is empty. The German authorities provide expensive gas, and understand the risks that the fuel in the winter will be more expensive.
