EU States Seek Flexibility in Gas Storage Targets Amid Price Concerns

March 22 (Reuters) – European Union member states are advocating for flexibility in meeting gas storage targets over the next two years, as they seek to mitigate the financial strain caused by soaring market prices.

A new provision, drafted by Poland, proposes allowing member states to deviate by up to 5 percentage points from the required storage levels if market conditions make gas replenishment excessively expensive. The amendment aims to provide relief to countries facing unfavorable economic conditions while maintaining energy security.

Poland’s Proposal and EU Discussion

Poland, which currently holds the rotating presidency of EU energy meetings, included the flexibility clause in a set of proposed amendments to existing regulations. According to a document obtained by Bloomberg News, the proposal was circulated among EU member states late Friday and is scheduled for discussion at an EU energy officials’ meeting on March 27.

The push for relaxed storage obligations comes as natural gas prices remain volatile, driven by geopolitical tensions, supply chain disruptions, and shifting energy policies.

Balancing Energy Security and Economic Stability

The EU has strict gas storage requirements to ensure energy stability, particularly after reducing dependence on Russian gas. However, the financial burden of maintaining high storage levels during price spikes has raised concerns among governments and energy firms.

If adopted, the proposed amendment could offer short-term relief to countries struggling with costly gas imports, while ensuring strategic reserves remain sufficient to meet winter demand.

Upcoming Decisions

The outcome of the March 27 meeting will determine whether EU energy ministers support the proposed flexibility or push for alternative solutions. With energy markets facing continued uncertainty, the EU’s approach to balancing affordability and security will remain a critical issue in the coming months.