Gas: no immediate risk for the EU: “The system can cope with the coming winter”

Brussels – No immediate risk, or at least not yet. For this reason, the EU sees “no reason to intervene.”Today’s (3 September) meeting of the Gas Coordination Group has concluded in line with previous statements, but on a positive note: “The EU’s gas system is resilient enough to cope with lower storage levels this coming winter,” according to the statement from the European Commission issued on the sidelines of the meeting.

Today the EU is “better prepared,” thanks to “greater diversification of supplies, increased LNG import capacity and a reduction in gas demand.” However, several factors of uncertainty remain. “Qatar’s LNG production is still suspended, while recent heatwaves in Europe have increased demand for gas for power generation. Added to this is geopolitical uncertainty, which continues to cause significant price volatility.”

For this reason, the Commission will continue to monitor the situation regularly. The next meeting of the coordination group is scheduled for 24 September.