Debate: Gas storage
Date: THURSDAY, 23 JUNE 2022
Speaker: Frans Timmermans
Language: EN

We know that energy security is the main topic of the day for many, many reasons. Russia has weaponised energy and we have seen further gas disruptions announced in recent days. All this is part of Russia’s strategy to undermine our unity. In total, 12 Member States are now affected by Russian unilateral supply cuts. Ten Member States have issued an early warning under the Gas Security of Supply Regulation. So the risk of full gas disruption is now more real than ever before. That is why the adoption of the Gas Storage Regulation, together with other preparedness measures, is so important at this moment.  The good news is that the political agreement between the European Parliament and the Council has already led to results. Current gas storage levels, which are above 50% of our capacity, are well above last year’s situation. So now is the time to go the extra mile. The Gas Storage Regulation includes not only a minimum obligatory level that gas storage facilities have to reach by 1 November each year, it also includes a trajectory and a monitoring system to ensure we meet our target.  The first monitoring verification will happen in August this year, so we need to be ready by that time. The regulation was announced on 8 March, the proposal on 23 March, and the political agreement was reached with the Council on 19 May. This was a record time and – I want to echo what honourable Member Buşoi said – this is really thanks to the excellent work of the ITRE Committee and the negotiating team. I’m really grateful for what you have done. This is remarkable.  So let me highlight some important points of the regulation. First, we welcome that the political agreement is an 80% filling target for 2022 with an important political commitment to seek to reach 85% at EU level. The filling target will rise to 90% for next year and will stay in place until 31 December 2025. Member States without storage capacity will also need to contribute in a spirit of solidarity to ensure that this level is achieved.  Second, we welcome that an agreement was reached on the filling trajectories with enforceable trajectories and intermediary targets already identified and included in the Act of 2022.  Third, for the first time ever, there will be a procedure to certify storage operators to make sure that influence by third country entities does not risk the security of the Union or any Member State.  Fourth, the regulation includes a provision on voluntary joint procurement for gas. As you know, last month the College of Commissioners adopted the creation of an energy platform task force in DG—ENER, and I also want to thank honourable Member Buşoi for referring to it.  Finally, Member States have reiterated their commitment to the ‘energy efficiency first’ principle. So the regulation is based on a fair and balanced burden—sharing mechanism. The unity and solidarity that the Member States and the European institutions show have been a pivotal signal to the markets, to our citizens, but also to our adversary.  He will not be able to divide us. We will stay united and we will make sure that Ukraine will come out of this as a free, independent country that is allowed to make its own choices of its allegiances.