Overview
- Energy commissioner Dan Jørgensen asked member states to begin injections as soon as possible to reduce competition for cargoes and limit a potential summer price surge.
- His letter proposes a lowered 80% storage target, permitting deviations of 10 percentage points, with an additional 5 points allowed under adverse market conditions.
- Countries would have until 1 December to meet their storage obligations under the adjusted approach reported by Bloomberg.
- The assessment describes supply security as relatively stable thanks to limited EU dependence on the conflict region and LNG that transited the Strait of Hormuz before the latest escalation.
- The guidance cites heightened geopolitical risks tied to Iran-related strikes and threats, warning of high, volatile prices that could slow the pace of injections and intensify competition for LNG.