EU Urges States to Ease Gas Storage Targets as Gulf Disruptions Drive Prices Higher

Overview

• Energy Commissioner Dan Jørgensen sent formal guidance urging countries to use EU Gas Storage Regulation flexibilities.
• The letter asks states to aim for 80% storage this year, start injections earlier, and consider extending the deadline to December.
• Brussels presents the steps as a way to reduce demand pressure, smooth refilling, and avoid a rush that could lift prices.
• EU gas inventories have dropped to under roughly 30% after a colder winter, while benchmark prices have risen by more than 30% since late February.
• The Commission says supplies are relatively protected but warns volatile global markets, Gulf infrastructure damage, and a slower Qatari recovery could hinder injections.