The European Commission calls on member states to start preparations for gas storage, in the context of the market volatility generated by the conflict in the Middle East.

On Monday, the European Commission requested member states to begin preparations for the establishment of gas stocks, considering the market volatility generated by the conflict in the Middle East. Although the EU's energy supply security is currently protected due to limited dependence on imports from this region, the community executive emphasizes the importance of coordinated preparations for replenishing gas stocks for the heating season.

The Energy Commissioner, Dan Jorgensen, highlighted that the EU is better prepared compared to 2022, but exposure to global market volatility remains a concern. In a letter addressed to the EU Energy Ministers, Jorgensen reminded of the flexibility provided by the EU Regulation on gas storage, which allows member states to respond quickly to changing market conditions, thus helping to reduce demand and pressure on gas prices in Europe.