European Energy Commissioner Dan Jorgensen has sent a letter to EU member states encouraging them to start refilling gas reserves earlier than usual to avoid pressure on supply, and subsequent rising prices.
"We are still in the early stages of the storage injection season, but it is essential that we start our preparations in time for next winter and in a coordinated manner," said the letter, dated March 20.
He added that the bloc's supply security was "relatively protected" as imports from Qatar, through the Strait, are of limited reliance for EU countries, but Saad Sherida Al-Kaabi, CEO of QatarEnergy, has already warned that his company will not be able to fulfill contractual supply obligations, which will have a ripple effect on global markets, impacting European supplies and prices.
Citing lessons learned following the outbreak of war in Ukraine in 2022, Jorgensen urged countries to take advantage of adjusted refilling targets, which can now be reached over a longer period of time than before.
"This flexibility can help reduce the gas demand at times when the supply is tense and ease the pressure on gas prices in Europe," he said, adding "we have also learned the pitfalls of uncoordinated action".
In the United Kingdom, Chancellor of the Exchequer Rachel Reeves Tuesday has vowed to deliver economic support to British "who need it most" if energy bills rise and the government has begun contingency planning for "every eventuality".
Full story European countries roll out fuel safety measures - World - Chinadaily.com.cn
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