Gas Storage: Winter Is Coming, and We’re Ready for It

In preparation for the coming winter, the European Union managed to achieve its goal of filling gas storage facilities to 90% capacity almost three months ahead of schedule, thus stabilizing markets across the EU countries.

“Today’s confirmation that we have met our gas storage requirements so far ahead of schedule underlines that the EU is well-prepared for winter, and this will help to further stabilize markets in the coming months,” states Kadri Simson, EU Commissioner for Energy. “Let me recall that we can further strengthen our position through investments in renewables and energy efficiency.”

In June 2022, the EU adopted the gas storage regulation with the target of 90% filling storage facilities by 1 November each year. According to Gas Infrastructure Europe, the 2023 target was reached by mid-August with 1024 TWh or 90.12% of the storage capacity of natural gas. Following the crisis in Ukraine, the EU put in place a series of measures to better prepare for winter, notably by looking for alternative sources of gas like liquified natural gas. In August 2022, the EU passed the gas demand reduction regulation, leading to an 18% drop in gas consumption from August 2022 to May 2023. The regulation has been renewed for another year.