Europe’s Oil, Gas Lobbies Urge Flexibility on Storage Targets

European Union energy lobby groups called for more flexibility in reaching the bloc’s natural gas storage targets, to avoid market pressure during the summer refilling season.

The statement by Eurogas and the International Association of Oil & Gas Producers comes as EU energy ministers gather for an informal meeting in Cyprus on Wednesday, with the agenda featuring discussions on energy security. Governments in the region are seeking to alleviate the impact of rising fuel prices after the US-Israeli war on Iran triggered the most serious oil supply disruption in history.