The European Union plans to extend its gas inventory target requirements for more than one year to ensure supply for the bloc meets demand, as its storage sites are at 58.5% of capacity.
The bloc’s goal is to reach 90% storage by November, but now aims to add additional targets into 2026. The current framework expires in December 2025.
“We are looking into various options to ensure sufficient gas storage once the current regulation comes to an end,” said an E.U. spokesperson.
The European Commission will require its gas storage to be at 50% on 1 February, as part of these targets.
Additional targets must be hit in May, July, and September.
The E.U.’s gas storage levels are significantly lower than in 2024 and 2023, following a bout of cold weather and the end of Russian gas flows to Europe on 1 January. Gas levels were at 74% at this time last year.
Ukraine’s state-owned oil and gas company declined to renew a 2019 deal that saw Russian gas transported through its territory, due to Russia’s invasion of Ukraine. The E.U. then raised its February storage target from 45% to 50% to maintain gas supply in the region.
At least seven ships carrying liquified natural gas have changed course towards Europe this month, with cargo owners seeking to profit from high prices in the E.U.
