EU approves new gas storage law amid concern over further cut-offs by Russia

Amid the threat of further gas cut-offs by Russia, the European Union (EU) energy ministers approved a new law to ensure that Europe's gas storage is at least 80% full by November this year. According to reports, the decision was taken at the ministerial meeting in Luxembourg on Monday, June 27. According to the European Commission, Russian gas deliveries have been interrupted in as many as 12 EU nations so far, and supply levels are now half in comparison to the previous year.

The EU is now apprehensive of cut-offs that may continue potentially to the point where the bloc loses its entire supply of Russian gas by year's end. “Since the beginning of Russia’s invasion of Ukraine, we have known that a very serious disruption is possible and now it seems likely,” the energy commissioner Kadri Simson told reporters in Luxembourg, Euractiv reported. According to Simson, Russia is seeking to exploit the availability of gas to create doubt, erode supply security, destabilise the EU market, prevent appropriate gas storage for the upcoming winter, and raise energy costs. 

EU vows to occupy 85% of its available subterranean gas storage space

According to the new regulation, underground gas storage on EU states' territories must be filled to at least 80% of capacity before the winter of this year and to 90% before the winter of 2021. Overall, the EU has decided to make an effort to occupy 85% of its available subterranean gas storage space by the end of this year. “The situation is deteriorating. While the gas supply for the member states is currently guaranteed, the security supply risks are greater than ever,” Simson warned. She further stated that the EU has already made significant improvements to energy security and now it's high time to step up. 

The law calls for certification of all underground gas storage site operators

Additionally, the law calls for the mandatory certification of all underground gas storage site operators by the relevant member state agencies. In order to protect the security of the EU's energy supply and other crucial security interests, this certification aims to reduce the risks of foreign impact on important storage systems. Earlier in March, the European Commission had presented the proposal for the regulation. The proposal also revised two existing rules regarding the safety of gas supply and access to natural gas transmission networks. 

Image: AP