EU gas storage facilities 65% full, no further action needed: European Commission

EU gas storage facilities are around 65% full, with no further action needed for the time being, a European Commission spokesperson said Friday.

Anna-Kaisa Itkonen told reporters that the bloc's Gas Coordination Group assessed the situation Thursday and determined that existing measures were sufficient to ensure gas supplies for the coming winter.

“For the time being, there is no need for further action,” Itkonen said.

She said EU member states had been informed that reaching an 80% storage level would be sufficient to meet gas needs for the coming winter, despite legislation setting a general target of 90%.

The bloc's storage legislation also provides additional flexibility, allowing the European Commission to reduce the target by 5 percentage points through a delegated act, she added.

Itkonen said the commission continues to monitor storage levels and remains in contact with member states over their progress in filling facilities.

The Gas Coordination Group is due to meet again in September, when the Commission will reassess the situation based on developments in member states.

EU gas storage levels currently stand at around 65% of total capacity.

Europe's gas storage levels remain below seasonal norms, raising concerns that a prolonged disruption to Middle Eastern supplies could leave the region exposed to sharper price volatility during the winter.