EU Aims to Avert Another Natural Gas Storage Crisis Next Winter
- EU executive arm plans measures to help overcome energy crunch
- Surging energy prices forced their way to top of EU agenda
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The European Union’s executive arm is looking at ways to build up strategic inventories of natural gas to better prepare for the next winter after limited supplies of the fuel pushed energy prices to records, sending shock waves through the bloc’s economy.
The European Commission plans to propose incentives and obligations to ensure sufficient stockpiles of gas in an action plan for “more affordable, secure and sustainable energy,” due to be presented next month. It will include a legal requirement for member states to have a minimum level of storage by Sept. 30 of every year, according to a draft seen by Bloomberg News.