Updated
Updated · Bloomberg · May 13
EU Energy Lobbies Urge Flexibility on 90% Gas Storage Targets as Fuel Prices Rise
Updated
Updated · Bloomberg · May 13

EU Energy Lobbies Urge Flexibility on 90% Gas Storage Targets as Fuel Prices Rise

4 articles · Updated · Bloomberg · May 13
  • Eurogas and the International Association of Oil & Gas Producers called for more leeway in meeting EU natural gas storage goals, arguing rigid targets could distort the market during the summer refill season.
  • The appeal lands as EU energy ministers meet informally in Cyprus on Wednesday, with energy security high on the agenda amid efforts to shield consumers and industry from higher fuel costs.
  • Those price pressures have intensified after the US-Israeli war on Iran triggered what the report described as the most serious oil supply disruption in history, widening concern across Europe’s energy markets.
With the Strait of Hormuz blockaded, can Europe avoid a winter energy crisis by relaxing its gas storage rules?
Will Europe's emergency plan prevent fuel shortages or just delay a much larger economic crisis?
Is the EU trading its past Russian gas dependency for an equally risky reliance on American LNG?