European Commission | Gas Coordination Group: No Immediate Security of Supply Risk

Despite lower gas storage levels compared to previous years, the Member States and the Commission consider there is no immediate risk for security of gas supply in the EU. In a meeting of the Gas Coordination Group (GCG) this afternoon, experts from the Commission and Member States confirmed that while the situation on global energy markets remains exceptional and requires close monitoring, it also differs significantly from that of 2021/2022. Today, the EU is better prepared, thanks to increased diversification, higher LNG import capacity, and reduced gas demand.

Based on historical projections, the EU is on track to achieve an adequate level of winter preparedness. Under the current circumstances, the Commission sees no reason to intervene. The EU gas system is resilient enough to cope with lower storage levels for the upcoming winter.

Overall, the situation in the Middle East remains unstable and Qatari LNG production is still shut down. More recently, heatwaves in Europe have driven up gas demand for power generation. Geopolitical uncertainty continues to drive significant price volatility. The Commission will keep monitoring the situation very closely in cooperation with Member States and stakeholders. A further meeting of the Gas Coordination Group is scheduled for 24 September.

Compliments of the European Commission’s Directorate-General for Energy