The new regulation, already agreed upon with EU ministers, sets a mandatory minimum level of gas in storage facilities of 80% by 1 November 2022, but member states and operators should strive to reach 85%. The target will rise to 90% in subsequent years, to protect Europeans from possible supply shocks. The text urges EU countries to diversify gas supply sources and boost energy efficiency. Cristian-Silviu BUŞOI (EPP, RO), rapporteur and Jerzy BUZEK (EPP, PL), Lead negotiator explain the new regulation on gas storage.

statement

oil and gas market (T)

BUZEK, Jerzy (EPP, PL)

energy union (T)

BUŞOI, Cristian-Silviu (EPP, RO)

Gas storage: statement by Cristian-Silviu BUŞOI (EPP, RO), rapporteur and Jerzy BUZEK (EPP, PL), Lead negotiator

SOUNDBITE (English), Jerzy BUZEK (EPP, PL), Lead negotiator, The regulation is the answer on the current situation. Russian Gazprom uses energy supply as as a weapon, as a matter of fact and political pressure on member states. So we've got our protective shield-it is our regulation.

SOUNDBITE (English), Jerzy BUZEK (EPP, PL), Lead negotiator, First of all, we will have our storage capacities in the EU absolutely full before the next winter. Good news for our citizens, small and medium business, for our industry. Secondly, no one who uses energy as a weapon, it means speculative prices, all fuel energy crisis, will be responsible for our storage capacities in the EU. Third issue- we can start formally with our joint purchasing of natural gas in the EU.

SOUNDBITE (English), Cristian-Silviu BU&#350;OI (EPP, RO), rapporteur, Of course, the proposal is coming in the context of the illegal and unprovoked invasion of Ukraine by Russia. And it comes to, first of all, give the certainty that for this winter and the following winters, the European businesses and European citizens will have access to energy and of course, especially to gas, and that will avoid as much as possible foreign interference.

SOUNDBITE (English), Cristian-Silviu BU&#350;OI (EPP, RO), rapporteur, It is very important that the member states will know that they have the obligation to fill the storage, the gas storage with the at least 80% this year and 90% starting from next year by 1st of November of each year. These are the targets.

SOUNDBITE (English), Cristian-Silviu BU&#350;OI (EPP, RO), rapporteur, Of course, those countries which large storage capacities have also the obligation to have at least 35% of their consumption there. And the countries that do not have a storage capacity in the place and it will take some time to build it will need to conclude agreements with the other member states that have these storage capacities and to store for them the necessary quantities of gas. So it is also the solidarity mechanism that is incentivized by this regulation