The Netherlands is confident that it can reach national gas storage targets set by the European Commission to ensure the security of supply next winter.
The Netherlands is one of the key gas-storing countries in the EU, meaning it will have a huge task to fill its storage in light of the Russian gas situation, but the Hague is confident it can do it.
“It will be harder next year but we need to make it work,” Energy Minister Rob Jetten’s spokesperson, Pieter ten Bruggencate, told EURACTIV on Wednesday.
The Netherlands will need to reach 49% by February before dropping to 34% in May, to 56% in July, and to 78% in September. It is unclear yet where they will get the extra gas from but LNG terminals should help partially replace the Russian gas shortages.
Last Thursday, EU ministers gathered once again to face the seemingly eternal question of how to tackle the energy crisis that has raged in Europe for the last 17 months. The meeting saw vital measures to protect energy security agreed in principle but delayed until a deal on a new gas price cap can be brokered.
The European Commission tabled its long-awaited proposal for a measure to limit excessive gas prices on Tuesday (22 November) following months of pressure from EU countries.
The so-called ‘market correction mechanism’ will apply to the EU’s main gas trading hub, the Dutch TTF, and aims to limit excessive prices when they are unrelated to global price spikes. If approved by EU countries, the cap will be in place for a year and come into force if two triggers are met: If month-ahead prices on the Dutch TTF exceed €275 for two weeks and if the difference between the TTF price and the global liquified natural gas (LNG) price is €58 or more.
(Kira Taylor & Sofia Stuart Leeson | EURACTIV.com)
Source: euractiv.com
