The European Parliament has taken a significant step towards stabilising the continent’s volatile gas market by backing an extension of its emergency storage rules, originally implemented in response to the 2022 energy crisis.
In a vote held on Thursday, the Industry, Research and Energy Committee overwhelmingly endorsed the European Commission’s proposal to prolong the gas storage scheme until 31st December 2027, with the aim of ensuring energy security and bringing down prices ahead of the winter season.
First introduced in the wake of Russia’s full-scale invasion of Ukraine—an event that triggered severe disruptions in energy supplies and sent gas prices skyrocketing—the rules require EU member states to maintain minimum levels of gas in storage. This measure was seen as essential to avoid another winter of panic-buying and speculative price surges.
However, as the scheme neared its initial expiration date at the end of 2025, lawmakers recognised the need for a more nuanced approach that balances market flexibility with the imperative of security of supply.
Under the amended proposal, MEPs have opted to reduce the mandatory gas storage fill rate from 90% to 83%, a shift designed to alleviate speculative pressures and provide more room for market-based pricing. Instead of reaching the target by 1st November annually, countries will now be given a two-month window—from 1st October to 1st December—to meet the revised benchmark.
Crucially, the revised plan allows member states to deviate from the target by as much as four percentage points in response to adverse market conditions, such as supply shortages or unseasonably high demand. In cases where those conditions persist, the European Commission may authorise an additional four-point deviation, giving national governments more breathing room to respond to exceptional circumstances.
Yet, lawmakers were careful to include safeguards. To prevent these flexibilities from undermining the broader goal of energy preparedness, the new text stipulates that the cumulative impact of all derogations must not result in overall storage levels falling below 75%. This floor is seen as vital to ward off another winter energy crisis.
The report, prepared by Borys Budka MEP, Chair of the Energy Committee, passed smoothly. The legislation is now expected to go before the full Parliament for a vote during its plenary session in Strasbourg, scheduled from 5th to 8th May.
Speaking after the vote, Mr Budka defended the compromise, describing it as “a pragmatic step towards stabilising European energy markets while ensuring that our citizens are protected from extreme price shocks.” He added, “The extension of the scheme until 2027 will provide both investors and consumers with the confidence they need in the energy sector.”
The need for stability remains urgent. Despite an easing in gas prices from their 2022 highs, the global energy market continues to grapple with tight LNG supplies, persistent price volatility, and geopolitical uncertainty. Competition for liquefied natural gas imports remains fierce, particularly from Asian economies, making it harder for Europe to replenish its reserves without driving up costs.
At the same time, there is growing recognition in Brussels that rigid targets may unintentionally drive up prices by prompting speculative trading ahead of the 1st November deadline. By softening the rules, the EU hopes to undercut such behaviour and encourage more rational market dynamics.
Energy analysts have generally welcomed the shift. “This is a smart evolution of the storage regulation,” said one Brussels-based energy policy expert. “It keeps the focus on energy security while adding flexibility that should help stabilise prices. The key now is to implement it consistently across member states.”
Nonetheless, critics remain. Some MEPs and environmental groups argue that the revised targets may not go far enough to secure long-term energy independence or accelerate the transition to renewables. Others warn that allowing countries to fall to as low as 75% of their storage targets could leave the bloc exposed if next winter proves exceptionally cold or if geopolitical tensions flare again.
Still, the consensus in Brussels appears to be that the benefits of flexibility outweigh the risks. In extending the scheme while softening its strictures, the EU hopes it can strike a delicate balance: ensuring gas keeps flowing when it is most needed, without overburdening markets already under strain.
As the legislation moves to the plenary stage, all eyes will now turn to Strasbourg, where the final vote will determine whether this compromise plan becomes a cornerstone of the EU’s long-term energy strategy.
Main Image: Photographer: Alain ROLLAND © European Union 2025 – Source : EP Usage terms: Identification of origin mandatory
