Impact of storage obligations on the EU gas market

An analysis with METIS

DG ENER has requested to the JRC to simulate the current gas market situation by using a quantitative gas market model given the current tight gas market situation and high energy prices observed in Europe during the last quarter of the year. Lately, international organisations such as the European Commission and ACER have paid closer attention to the recent developments on energy markets. Specifically to the gas market, we are currently monitoring the physical flows with third countries outside the EU, the evolution of gas stored in underground gas storages, and the LNG figures on a daily and weekly basis.

This report explores simulated policy options to derive potential insights on their financial impacts at EU level and provides preliminary results about the implications of imposing minimum gas storage volumes at the beginning and ending of the injection season. This can be deemed a measure to ensure affordability with respect to the 2021 gas market situation of energy price spikes during September, October and November in most Member States.

FERNANDEZ BLANCO CARRAMOLINO Ricardo ; GIACCARIA Sergio; COSTESCU Anca; BOLADO LAVIN Ricardo

Fernandez Blanco Carramolino, R., Giaccaria, S., Costescu, A. and Bolado Lavin, R., Impact of storage obligations on the EU gas market, EUR 30994 EN, Publications Office of the European Union, Luxembourg, 2022, ISBN 978-92-76-47665-8, doi:10.2760/088735, JRC128147.

2022-02-28

Publications Office of the European Union

JRC128147

978-92-76-47665-8 (online)

1831-9424 (online)

EUR 30994 EN , OP KJ-NA-30994-EN-N (online)