EU Countries Adopt Mandatory Gas Storage

With Energy as a major issue on the frontburner, European Union countries agreed Monday that all natural gas storage in the 27-nation bloc should be topped up to at least 80% capacity for next winter as they prepare for the possibility of Russia further reducing deliveries.

The EU is trying to slash its use of Russian energy amid the Kremlin’s war in Ukraine and find other sources. A ban on imports of Russian coal will start in August, and an embargo on most oil from Russia will be phased in over the coming eight months.

Meanwhile, Moscow is disrupting natural gas deliveries, a fuel used to power factories and generate electricity that the EU didn’t include in its own sanctions for fear of seriously harming the European economy. Before the war, the bloc got about 40% of its natural gas from Russia.

Moscow has reduced gas supplies to several EU countries, including heavy importers Germany and Italy, and cut off deliveries to other members, such as Poland and Finland.

The Industrial Park of Hoechst is pictured in Frankfurt, Germany, Thursday, June 23, 2022. Germany activated the second phase of its three-stage emergency plan for natural gas supplies saying the country faces a “crisis” and warning that storage targets for the winter are at risk due to dwindling deliveries from Russia.

The Industrial Park of Hoechst is pictured in Frankfurt, Germany, Thursday, June 23, 2022. Germany activated the second phase of its three-stage emergency plan for natural gas supplies saying the country faces a “crisis” and warning that storage targets for the winter are at risk due to dwindling deliveries from Russia.