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The European Union, ready for winter, fills 90% of its gas reserves

2023-08-18 21:00:52Kosova&Bota SHKRUAR NGA REDAKSIA VOX
The European Union, ready for winter, fills 90% of its gas reserves
Natural gas deposits

The European Union's natural gas reserves have filled up to 90 percent of capacity, well ahead of the Nov. 1 deadline for replenishing reserves, making the EU "well prepared," the European Commissioner for energy.

The rapid replenishment of reserves means the European bloc "is in a much more stable position than it was in the same period last year", when Russia's invasion of Ukraine raised energy prices, European Energy Commissioner Kadri Simson said. .

The crisis caused by Russia's war forced the EU to adopt a new law, according to which 90 percent of gas reserves must be filled every year by November 1.

Before Moscow launched its invasion of Ukraine in February 2022, Russian natural gas imports to the EU accounted for almost half of the bloc's imports.

Although Russian gas is not subject to the sanctions that the EU has imposed on Moscow, the bloc has cut Russian imports below 10 percent, while Moscow cut off its energy supplies.

The move initially boosted energy prices, but they then fell towards the end of the year as Europe benefited from a mild winter and more gas was imported from the United States and the Middle East.

As for the reserves of individual states, they differ. Spain has filled 99 percent of the capacities, France 88, while Latvia 77 percent.

The European Commission has estimated that with 90 percent of reserves filled, the EU has enough gas to cover a third of its needs during the winter. /REL


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